PM lays stone for low-income housing project

"President Hosni Mubarak instructions keen on giving of 90 per cent of government efforts to improving the conditions of limited-income people and providing the appropriate atmosphere for investment," said Prime Minister Atef Ebeid.

"Investment is the State's main source to create jobs for young people," Ebeid said.

Ebeid made the statements while laying down the foundation stone of a new housing project for youths at Al-Haram area (Pyramids area).

"Providing housing units to limited-income people at affordable prices is on the state's top priorities," Ebeid said.

The new project will provide 2,500 Housing Units.

Ebeid said the government would provide the lands on which the units will be set up for free, and will contribute 50 per cent to the interest levied on the housing loans.

He added that the youths could own the units but only after paying their monthly payments.