Wednesday, August 9, 2017

Egypt fund launches $18m development in Aswan

Cairo-based Tahya Misr Fund ’s executive committee recently held a meeting to discuss its investments, including the launch of an urgent development plan worth EGP 320 million ($18 million) in Aswan, a report said.

The meeting discussed cooperation between the fund and the investors willing to support the fund and the launch of a promotional campaign with a number of banks and non-banking financial entities, reported Daily News Egypt.

The development plan in Nasr Al-Nubia is worth EGP170 million and includes housing units, drinking water, and sanitation projects. The fund’s executive committee agreed to direct the rest of the allocated funds to social projects, such as healthcare and hospitals.

The meeting also reviewed the fund’s future plan in the coming period, including the launch of new initiatives in different development fields.

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