|16 January, 2020

Egypt Mashrou'ak initiative finances 5,615 projects in Kafr El-Sheikh

The projects created 13,950 jobs

A general view of the newest project for future homes "One Kattameya" by Egyptian real estate development Memaar Al Morshedy Group at a highway in Cairo, Egypt, September 23, 2018. Image used for illustrative puposes

A general view of the newest project for future homes "One Kattameya" by Egyptian real estate development Memaar Al Morshedy Group at a highway in Cairo, Egypt, September 23, 2018. Image used for illustrative puposes

REUTERS/Amr Abdallah Dalsh

Cairo –  Egypt’s national project for human and community development ‘Mashrou'ak’ has financed 5,615 projects in Kafr El-Sheikh with a total amount of EGP 629.329 million, Kafr El-Sheikh’s governor Gamal Nour EL-Din stated on Thursday, according to the Middle East News Agency.

The projects were financed by a group of banks including the National Bank of Egypt, Banque Misr, Banque Du Caire, Housing & Development Bank, Bank for Development and Agricultural Credit, and Bank of Alexandria, Nour EL-Din added.

The governor said that the projects created 13,950 jobs for the residents of Kafr El-Sheikh.

Moreover, 202 projects are still under consideration, Nour EL-Din revealed, noting that these projects will encourage young people to start new businesses.

Source: Mubasher

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