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Thursday, 19 April 2018

Housing Minister signs USD 8.1 mn agreement with Switzerland for urban development project

Housing Minister Mostafa Madbouly signed yesterday a USD 8.1 mn agreement with Switzerland to finance urban development project Hayyena, Al Mal reports. The project will be implemented first in Qena on a trial basis and will aim to improve services and conditions for residents at a total cost of USD 11.8 mn, of which the Egyptian government will provide USD 3.7 mn. Another yet undetermined governorate will be added to the project, which should be complete in 2024. The loan is part of a 2013 Egyptian-Swiss agreement for technical and financial cooperation.

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