Minister of International Cooperation Sahar Nasr signed yeasterday a deal with the World Bank for US$500 million in funding for an economic development program in Upper Egypt.
The program will be applied in the neediest southern governorates, establishing projects to support the development of food and agriculture industries, as well as improving infrastructure, job opportunities and basic services for local communities. The governorates of Sohag and Qena will benefit from the project, besides other neighboring provinces. The program focuses on food industries and commercial chains associated with the agricultural sector and livestock, as well as factories for the production of furniture.
The program is part of the government’s effort to distribute investments nationwide, aiming at parity in the distribution of economic resources while improving the lives of citizens in the most impoverished areas.