UAE funding projects in Egypt worth US$10 bn

UAE funding projects in Egypt worth US$10 bn

CAIRO, 13th November, 2014 (WAM) -- The Director of the Coordination Office of the UAE-funded Development Projects in Egypt, Rashid Al Dhaheri, has revealed that the UAE is implementing a number of development projects worth more than US$10 billion in 18 governorates.

These projects cover key sectors including energy, housing, urban development and food security along with health, public transport and education.

Al Dhaheri said that these projects would accrue far-reaching economic benefits to Egypt as they would generate 600,000 jobs and serve 10 million people.

He was addressing a special orientation session jointly organised by the Coordination Office and the Dubai Press Club to brief the visiting UAE delegation of mediapersons on the progress of these projects.

He said that the UAE had decided to back Egypt at a time when the Arab country was undergoing a delicate transition.

UAE's development assistance to the country, he affirmed, would continue in the future in order to deliver sustainable benefits under the directives of the UAE’s leadership.

He said that his office was working with the Egyptian government with a long-term plan for economic recovery.

Elaborating on some of the most important projects, he said 100 schools and 78 clinics would be established, more than 100,000 Egyptians would be trained to join the job market and 25 silos would be built. A new line for production of vaccines and serums would also be commissioned and 50,000 housing units would be delivered by next year The UAE, he added, is also funding sewerage projects in 51 villages, providing 600 public transport buses and helping in the construction of four bridges.