Egypt to spend $127 mln in revamping slums

The news comes after the Ministry of Urban Renewal and Informal Settlements launched a project aimed at eliminating 258 urban slum areas

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Egypt will allocate $127 million of its annual budget in the 2015/2016 fiscal year to develop slum areas, Ahram Online reported the planning ministry as saying in a statement on Saturday.

The news comes after the Ministry of Urban Renewal and Informal Settlements launched a project aimed at eliminating 258 urban slum areas within a three-year timeframe.

The allocated money is part of $875 million in investments for local development programs.

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