CAIRO: Egypt’s cabinet yesterday approved an additional 22.3bn Egyptian pounds ($3.2bn) in spending on investment projects to boost the economy over the coming 10 months, Deputy Prime Minister Ziad Bahaa El Din said.
He said the government would present its economic programme to Gulf Arab countries, in particular the UAE, which has already agreed to finance medical projects and 10 wheat silos. The new investments would be aimed towards labour-intensive projects and services that helped the poor, Bahaa El Din said.
The cash will be directed to building railways, roads, bridges and 131 potable water and sewage treatment plants as well as to an extension of the Cairo metro and other improvements to the city’s transport network.
Reuters
