Egypt's el-Sissi directs $127.7 million for housing units

Egypt's state-run news agency says President Abdel-Fattah el-Sissi has ordered that one billion Egyptian pounds (USD 127 million dollars) worth of funds donated by government supporters be used to build 100,000 housing units.

MENA said today the financing would come from Tahya Misr, a fund launched by el-Sissi in 2014 to collect donations in order to support the Egyptian economy.

Egypt's outlook has grown bleaker in recent months, however, as Gulf aid has dried up and militant attacks have dealt a further blow to tourism and foreign investment.