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EGP 600bn allocated to develop Egyptian countryside: Finance Minister - Daily News Egypt

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EGP 600bn allocated to develop Egyptian countryside: Finance Minister

Public Treasury and Mint to produce coins highlighting national achievements

Egypt’s Minister of Finance Mohamed Maait has revealed that over EGP 600bn will be allocated to implement the national project to develop the Egyptian countryside in the next three or four years. 

The major financial injection will implement the presidential directives to lay the foundations for comprehensive and sustainable development across Egypt. 

Maait pointed out that EGP 75bn has been allocated to villages, as part of the new budget for projects under the “Decent Life” initiative.

In a statement issued by the Ministry of Finance, on Wednesday, the minister highlighted the importance of the national project to develop the Egyptian countryside. This is because it is the largest in the world in terms of business volume, diversity, and the percentage of targets that exceed half of the Egyptian population.

Meanwhile, Egypt’s Public Treasury and Mint Authority will be undertaking the project to print the coins under the slogan “Decent Life”. This comes as part of the unprecedented national and development projects that Egypt is witnessing under President Abdel Fattah Al-Sisi.

Hossam Khader, Head of the Public Treasury and Mint, said that EGP 10m worth of EGP 1 coins, and 5 million 50 piaster coins will be made. This will be in appreciation of the efforts made by the state in the “Development of Egyptian Rural Villages” project.

Khader pointed out that the country’s top achievements will be highlighted by their being printed on coins. These include: the New Administrative Capital (NAC); New Alamein City; the national road network; power plants; the Zohr gas field; the new Assiut Barrage; the solar energy farms in Aswan; the New Suez Canal; the national housing project; the national project for fish farming; the Galala project; technology incubators; the logistics centre for grain storage and circulation; and the Golden Triangle project economic zone.

Sherif Hazem, Advisor to the Minister of Finance, highlighted the ministry’s keenness to develop a national awareness of important historical events. This would take place by issuing commemorative uncirculated silver coins worth EGP 100, and circulated coins of 50 piasters on the occasion of transferring the royal mummies to the National Museum of Egyptian Civilization (NMEC). 

The coins will carry a slogan related to the event in both Arabic and English, in order to document it.

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