Egyptian Prime Minister Kamal El-Ganzouri has budgeted LE175 million for the development of impoverished areas throughout Egypt in 2012, state daily Al-Ahram reported on Thursday.
The budget includes LE100 million from the Slum Development Fund and LE75 million from the general budget.
Four neighbourhoods are slated for development under the plan: near Sudan Street in Giza, Damietta’s Montazah district and two areas in the canal city of Suez.
Development of the areas – known as "informal areas" – will be coordinated by the Ministry of Housing and the Slum Development Fund.
Housing Minister Mohamed Fathy El-Baradie indicated that the new budget allocations would pave the way for new legislation aimed at tackling Egypt’s chronic housing problem.
He added that a new law governing social housing programs tailored to the needs of middle- and limited-income segments would likely be passed by Egypt's incoming parliament.
There are currently 383 informal areas in Egypt, where living conditions are often uncomfortable if not – in some cases – downright hazardous.