Cairo – Mubasher: Egypt has considered increasing investments to the neediest areas during fiscal year 2020/2021 to promote social security and local development, the minister of planning and economic development Hala El-Saeed said.
The second phase of ‘Hayah Karima’ (Decent Life) initiative funded new projects in 357 new villages in 14 governorates as well as existing projects in 143 villages covered under the first phase at a total cost of EGP 8 billion, El-Saeed added in a statement on Monday.
During the first nine months of FY19/20, the North African nation directed a funding worth EGP 174.5 million under the initiative to Micro, Small and Medium Enterprise Development Agency (MSMEDA) as well as micro-funding associations.
Nearly 17,800 residents of 100 villages in nine governorates benefited from the funding, led by Assiut with EGP 115.8 million.
Sohag, Qena, Beheira, Aswan, Luxor, Minya, Qaliubiya, and New Valley received funding of EGP 28.8 million, EGP 17.1 million, EGP 4.2 million, EGP 3.4 million, EGP 2.3 million, EGP 1.1 million, EGP 1.1 million, and EGP 1 million, respectively.
