L E 2.6 billion to fund state's plan projects
Egypt, Economics, 9/4/2001

Egyptian Minister of Planning and International Cooperation Ahmed El-Darsh has approved the allocation of L.E. 2.6 billion for the first quarter of fiscal year 2001/2002 to fund major projects nationwide.

The Minister said that the money will be used by the State Administrative bodies to pay contractor companies and importers involved in the projects.

Darsh, who doubles as Board Chairman of the National Investment Bank (NIB), added that the Ministry of Housing and Utilities has been given a share of L.E. 659.2 million of the allocation to go to sewage and drinking water projects.

The Public Works and Water Resources Ministry has received L.E. 557.3 million to fund irrigation projects like Toshka, as well as for developing North Sinai's infrastructure besides reclaiming 400,000 feddans there.

The Ministry of Education obtained L.E. 280.2 million. The Educational Buildings Authority will use this money to complete the building of a number of schools nationwide.

Some L.E. 168.8 million has been allocated to the Ministry of Agriculture and Land Reclamation to develop agricultural projects and upgrade agriculture research centers.

A sum of L.E. 158.9 million has gone to the Ministry of Health, while the Ministry of Interior and the Ministry of Transport have been allocated L.E. 139.5 million and L.E. 72.3 million respectively.

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