Egypt directs LE 4.2B investments to Damietta Governorate during 2020/21

CAIRO – 11 January 2021: The Egyptian Ministry of Planning and Economic Development announced the features of the "Citizen Investment Plan" in Damietta Governorate for the current fiscal year 2020/2021.

The ministry added in a statement, Monday, that the number of development projects in the governorate reaches 226 projects, and that the value of public investments directed to Damietta governorate in the current fiscal year plan is LE 4.2 billion, with a 29 percent increase compared to the 2019/2020 plan, representing 1.6. percent of distributed public investment.

It also pointed out that the investments funded by the public treasury destined for Damietta Governorate increased by 31 percent.

As for the sectoral distribution of public investments targeted in Damietta governorate, the ministry said that investments worth LE 1.1 billion will be directed to the housing sector and slum development at a rate of 25.1 percent, and LE 1.5 billion is allocated to the transport sector, with a 35.2 percent, in addition to directing  LE 389.2 million to the local development sector, at a rate of 9.3 percent.

"LE 356 million investments are for the higher education sector, at a rate of 8.5 percent, in addition to directing LE 322.5 million to the irrigation sector, by 7.7 percent, and LE 594.2 million to other sectors, by 14.2 percent,” the statement added.

It explained that the most important development goals in the housing sector and the development of informal settlements in Damietta Governorate in the 2021/2021 plan are to direct about LE 494.3 million to drinking water and sanitation services, in addition to directing LE 226.6 million to real estate activities.

The Planning Ministry referred to the Damietta Furniture City project, which is the largest industrial zone specialized in furniture and complementary industries in the Middle East to develop the furniture sector, saying that the total appropriations listed for the project in the 2021/2021 plan amount to LE 103 million pounds.

With regard to the local development sector in Damietta governorate, the most important development targets, according to the statements, are the paving of local roads by about LE 170 million, in addition to directing LE 71.2 million to strengthen the governorate's electricity networks.

According to the statement, the development in the irrigation sector is represented in the establishment, replacement and renewal of 30 bridges and industrial facilities.