Egypt’s government-led Informal Settlements Development Fund (ISDF) will inaugurate eight slums after a development process within the upcoming months, ISDF’s executive director Khaled Siddiq said on Wednesday.
The developed informal settlements expected to be inaugurated by early 2020 include the third phase of Asmarat project, Rawdat Al-Sayeda, formerly Tal Al-Akareb, El-Rowaysat in Sharm El-Sheikh, and another slum in Rashid City, as well as four slums in Hurghada, Al Qoseir, Ras Gharib and Safaga.
Previously, ISDF’s executive director revealed that an amount of 12 billion Egyptian pounds ($720 million) will be spent by the end of financial year 2019/2020 to resume efforts for the development of informal settlements.
Since the beginning of 2016 until June 2019, 18 billion pounds ($1.08 billion) were spent under informal settlements development plan, Siddiq added.
