Egypt to allocate EGP 600 bln for national project to develop countryside

Doaa A.Moneim , Wednesday 2 Jun 2021

'Decent Life' coins will be minted in appreciation of the state’s efforts to develop rural areas, said head of the Public Treasury Authority

Mohamed Maait
File Photo: Minister of Finance Mohamed Maait.

Egypt plans to allocate EGP 600 billion for the national project dedicated to developing the countryside over the next four years, Minister of Finance Mohamed Maait stated on Wednesday.

Maait noted that the budget of FY 2021/22, which starts on 1 July, includes an allocation of EGP 75 billion for projects related to the “Decent Life” initiative in the coming four years.

He added that he instructed the Public Treasury Authority to mint “Decent Life” coins, with the initiative being one of Egypt’s unprecedented national mega projects implemented under President Abdel-Fattah El-Sisi.

Head of the Public Treasury Authority said that 10 million EGP 1 coins and five million 50-piastre coins will be released with the slogan of “Decent Life” in appreciation of the state’s efforts to develop rural areas.

Egypt’s Prime Minister Mostafa Madbouly chaired a meeting on Monday to follow up on the progress of countryside development plans, including the project to reclaim 1.5 million feddans.

The meeting saw a discussion over a marketing plan that is being designed for developing the infrastructure of 296,000 feddans.

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