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Government investments worth EGP 47bn allocated to Upper Egypt in FY2021 - Daily News Egypt

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Government investments worth EGP 47bn allocated to Upper Egypt in FY2021

Local development programme in Upper Egypt is important for achieving sustainable development goals, says Minister Al-Mashat


Government investments worth EGP 47bn have been allocated to Upper Egypt governorates in the next fiscal year (FY) 2020/21, according to Minister of Planning and Economic Development Hala El-Said.

El-Said said the figure, which constitutes 25% of total government investments, represents a 50% increase over the current FY 2019/20.

It comes as part of efforts to implement a local development programme in Upper Egypt, El-Said said. The plan includes governmental investments of about EGP 2.9bn directed to the Qena and Sohag governorate development programme, bringing the total governmental investments for this programme to EGP 7.9bn since FY 2017/18.

El-Said also said that government’s local development programme in Upper Egypt is to advance development in the Sohag and Qena governorates. The World Bank has provided partial  funding of $500m to the programme.

It is intended to make the region more attractive to investments, and improve citizen living conditions. The programme also looks to develop a model of integrated regional and local development that can be generalised across the country.

El-Said pointed out that the programme’s methodology depends on a focused pumping of investments alongside institutional development. There should also be a development of local capabilities and work systems to enable the governorate to manage local development efficiently and effectively in a decentralised framework.

The minister’s remarks came during a meeting with Minister of International Cooperation Rania Al-Mashat, and Minister of Local Development Mahmoud Shaarawy. The meeting was held to follow up on the executive position of the Upper Egypt local development programme in Sohag and Qena governorates. The ministers also discussed the programme’s expansion into the Assiut and Minya governorates.

Minister Al-Mashat stressed the importance of the local development programme in Upper Egypt in achieving sustainable development goals. It is also expected to raise economic growth rates, and empower those living in the region through providing employment, as well as manufacturing and production opportunities.

She clarified that the programme is the first World Bank-provided funding to serve Upper Egypt’s governorates. It has received great attention from political leadership, and comes within the framework of achieving the 2030 Sustainable Development Goals and serves six sustainable development goals.

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https://wwww.dailynewssegypt.com/2020/06/04/government-investments-worth-egp-47bn-allocated-to-upper-egypt-in-fy2021/
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