Global Arab Network | Egypt: Billions for financing small and medium projects

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Egypt: Billions for financing small and medium projects

Friday, 07 May 2010 13:09

Dr. Mahmoud Mohieddin Egypt Investment Minister said in a conference attended by investors of East Delta governorates which was held in Kafr El-Sheikh that the government is paying much attention to the small and medium projects.

Mohieddin announced a new one billion pound fund as of mid June to finance the new small and medium projects.

Mohieddin added L.E 220 million allocated for overcoming the problems of industrial drainage at Al-Gharbiya and Kafr El-Sheikh governorates.

The sum is to be used for the establishment of stations for recycling the industrial drainage at six companies of the public business sector.

He stressed the need that administrative quarters should cooperate with Environment Ministry to resolve the industrial drainage problems.

Investment at governorates includes the upgrading of the infra-structure of roads, sanitary drainage, natural gas through the government forms and the private sector firms as well.

National investments account for 75 percent of total investments in Egypt while the rest 26 percent came from foreign and Arab investments at the governorates of Sharqiyah, Dakahliya, Damietta and Kafr El-Sheikh already reached L.E. 235 million and L.E 208 million new investment projects would be carried out in those governorates this fiscal year.(SIS)

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