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Cairo’s public investments rise to EGP 46.5bn in FY 2020/21 - Daily News Egypt

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Cairo’s public investments rise to EGP 46.5bn in FY 2020/21

Ministry of Planning and Economic Development reviews Citizen Investment Plan in Cairo governorate for FY 20/2021


Public investments allocated for Cairo governorate in fiscal year (FY) 2020/21 rose to EGP 46.5bn, 41% higher than FY 2019/20, according to Egypt’s Ministry of Planning and Economic Development.

The amount will be spent on 772 development projects across the governorate, Minister of Planning and Economic Development Hala El-Said said on Thursday.

It comes as part of the ministry’s review of the “Citizen Investment Plan” in the Cairo governorate for FY 2020/21.

The ministry continues conducting the initiative in all Egyptian governorates for the second year in a row, aiming to activate community participation and involve citizens in planning and follow-up.

El-Said said that Egypt’s Vision 2030 aims to improve the quality of life of the Egyptian citizens.

Hence, the sustainable development plan for the FY 2020/21 is based on public investment in infrastructure, social, and economic sectors.

“The growth rate in investments financed by the public treasury and destined for Cairo governorate reaches 49.2%,” the minister revealed.

About the sectoral distribution of public investments targeted in the Cairo governorate with the 2020/21 plan, El-Said indicated that EGP 10.9bn of investments will be directed to the housing sector and informal settlement development. The amount represents 23.5% of the total public investments, while Cairo’s transport sector will receive EGP 11.8bn or 25.3%.

While the investments of the pre-university education sector amounted to EGP 4.5bn or 9.7%, and the local development sector was allocated to EGP 3.4bn or 7.3%.

Regarding the higher education sector, it will receive EGP 3.4bn or 7.2%.

The report stated that out of the housing sector allocations, EGP 1.9bn will be directed to drinking water and sanitation services. More EGP 244.1m will go to the electricity services.

In the pre-university education sector, the most important developmental targets is establishing 173 schools with a total of 3,412 classrooms.

As for the New Administrative Capital project, the report pointed out that it aims to establish a new administrative and economic city in the Greater Cairo region, including residential and commercial areas, among other services.

The report indicated that the amount of appropriations listed for the project in the 2020/21 plan amounts to EGP 15.5bn.

The bodies responsible for implementing the project are the Ministry of Transport, the Ministry of Communications and Information Technology, the Ministry of Youth and Sports, and the Ministry of Planning and Economic Development.

The report also referred to the project to develop and expand the Cairo Metro network, which aims to provide a modern, fast, safe, and environmentally friendly means of transport to meet the increasing demand.

This will be done by improving and raising the efficiency of the Metro operation, and establishing new lines that accommodate the largest number of commuters. The project, in the 2020/21 plan, costs about EGP 12.3bn.

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https://dailyfeed.dailynewsegypt.com/2021/01/28/cairos-public-investments-rise-to-egp-46-5bn-in-fy-2020-21/
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