(MENAFN) The Egyptian government is set to allocate an unprecedented sum ranging between USD1.8 billion and USD2 billion for the housing sector, Amwal Al Ghad reported.
The government is presently working on the first allocation for the Social Housing Finance Fund. The state budget is going to add USD261.34 million to the aforementioned range.
"The fund's budget relies on revenues worth 13 billion pounds, generated from units put for sale to citizens, in addition to the first payment worth USD130.67 million of World Bank's loan." The housing minister said.