Egypt, World Bank launch $500 million Upper Egypt development programme

Egypt and the World Bank launched on Sunday the $500 million Upper Egypt Local Development Programme, the bank announced.
In an e-mailed statement, the World Bank said that “the $500 million World Bank loan will help create jobs in Upper Egypt by enhancing the business climate and improving infrastructure and the delivery of services.”

“We are pleased to witness the launch of the new programme and support the government’s broader efforts in developing the lagging regions of Egypt. This programme will help create jobs, improve service delivery and realise the potential of economic sectors in both Sohag and Qena,” Asad Alam, World Bank Country Director for Egypt, Yemen and Djibouti said in the statement.