On the 51st Anniversary of the 6th of October Victory, Ministry of Planning, Economic Development, and International Cooperation Reviews Public Spending & Concessional Financing Directed Towards the Development of Sinai

Al-Mashat: Over EGP 530 Billion in public spending for Sinai development from 2014/2015 to 2024/2025, in addition to concessional development financing.

Implementation of vital projects contributing to economic development in various sectors in North and South Sinai.

Development projects enhance infrastructure to encourage private sector investment in the region.

 

In conjunction with the 51st anniversary of the 6th of October Victory, the Ministry of Planning, Economic Development, and International Cooperation presents an overview of public spending and concessional development financing directed towards the development of the Sinai Peninsula, reflecting the country's strategic focus on this vital part of Egypt's land.

 

In a press statement, the Ministry announced that public spending allocated for projects in Sinai and the Canal Cities (North Sinai, South Sinai, Suez, Ismailia, and Port Said) from 2014/2015 to 2024/2025 amounted to approximately EGP 530.5 billion.

 

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, emphasized that the Sinai Peninsula is a key priority within the development strategy due to its geographical significance and historical importance. She highlighted that Sinai is one of the cornerstones of the Egyptian economy, owing to its vast natural and human resources.

 

H.E. Minister Al-Mashat also noted the significant advances in the region over recent years, including improvements in infrastructure, healthcare, education, and the creation of thousands of job opportunities for the people of Sinai. Additionally, investments have been bolstered in vital sectors, enhancing connectivity between Egypt’s eastern gateway and other governorates.

 

H.E. Dr. Al-Mashat added that total public spending directed towards projects in Sinai and the Canal Cities reached EGP 58.8 billion in 2023/2024. The Minister also highlighted the government's focus on promoting investment opportunities, with 377 investment opportunities available on the investment map across various sectors since the map’s launch in 2018, including 180 industrial opportunities. In addition, three Investor Services Centers have been established, costing EGP 212.7 million, serving 7,500 companies.

 

H.E. Dr. Al-Mashat also outlined key development programs targeted for implementation in the 2024/2025 fiscal year aimed at developing Sinai. These programs include a large number of projects in agriculture, irrigation, potable water, transportation and storage, education, and healthcare. She emphasized that the expansion of infrastructure development would open the door for increased private sector investments in the region.

 

In this context, H.E. Dr. Al-Mashat also addressed the Ministry's role in mobilizing local and international funding to address development gaps. Since 2016, vital developmental projects have been carried out in the Sinai Peninsula with concessional development financing, especially from Arab funds that have contributed to the financing of the Sinai Development Program, as well as other partners like the U.S. Agency for International Development (USAID).

 

Since 2016, the Arab funds have financed 20 projects, including 11 projects funded by the Saudi Fund for Development, such as the King Salman bin Abdulaziz University Project, the establishment of 18 residential clusters and 4 fishermen’s villages, a tertiary treatment plant for Al-Mahsimah wastewater to process 1 million cubic meters per day, a desalination plant in El-Arish with a capacity of 100,000 cubic meters per day (expandable to 300,000 cubic meters per day), a canal to transfer water (the "Sahara") with a capacity of 1 million cubic meters per day, the establishment of 13 agricultural clusters, the development of Crossroad 1 (Stage I) with a length of 61 km, and several road projects totaling hundreds of kilometers.

 

Additionally, 7 projects have been financed by the Kuwaiti Fund for Arab Economic Development, such as the 160 km Crossroad 4 project, the 350 km Taba-Sharm El-Sheikh road, the construction of a desalination plant in East Port Said with a capacity of 150,000 cubic meters per day, and the development of several water desalination plants in South Sinai.

 

In addition to Arab funds, as part of the development partnership with USAID, grants amounting to $5.3 million have been allocated under the Comprehensive Economic Governance Agreement, and $50 million under the North Sinai Initiative to finance the construction of five groundwater desalination plants, one seawater desalination plant, 14 deep wells, the renovation of two desalination plants to increase capacity, the drilling of two deep wells, and the creation of four water storage tanks to enhance storage capacity. Additionally, 50 trucks for water distribution and 10 trucks for sewage disposal have been procured, helping to expand access to potable water and expand drinking water networks to 126,000 citizens in El-Arish.