Public Management

Egypt pumped $291mln into road projects last year

Egypt pumped $291mln into road projects last year
Friday, 07 February 2020 14:08

The construction and rehabilitation of road infrastructures captured a total of $291 million in Egypt last year.

According to the ministry of transport, an amount of EGP2.2 billion ($139 million) was invested in 26 projects to build a total of 524 km of roads. Another EGP2.4 billion ($152 million) was used to construct 7 bridges and an urban road, including the Adly Mansour road, four bridges along the Benha-Masoura highway and two bridges along the Cairo-Suez road.

The government’s efforts to upgrade road infrastructures in the country have paid off and Egypt has jumped 17 places to 28th in the 2019 Road Quality Index, which is a component of the Global Competitiveness Index published annually by the World Economic Forum (WEF).

This year, the Egyptian government intends to pursue its strategy, now focusing on rural areas. On 25 January, the Finance Minister, Mohamed Maait, announced that EGP3 billion (about $190 million) will be invested to establish an emergency plan for the development and modernization of road networks. One-third of this budget will be allocated to the Ministry of Local Development.

Romuald Ngueyap

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Dutch Good Growth Fund invests $3 million in First Circle Capital FCC backs early-stage African fintech startups continent-wide Fintech leads...
UBA moves beyond remittances with integrated banking and investment services Remittance flows to Africa exceed $100 billion a...
BiasharaLink and Deal House aim to support AfCFTA implementation Platforms seek to turn African diplomatic missions into trade...
Dakar-based ICF opens representation office in Abidjan Côte d’Ivoire hosts 18 of WAEMU’s 38 licensed brokerage firms BRVM equity market cap...
Most Read
01

Absa Kenya hires M-PESA’s Sitoyo Lopokoiyit, signalling a shift from branch banking to a telecom-s...

Absa Kenya Imports a Telecom Playbook in Bid to Reinvent Retail Banking
02

Ziidi Trader enables NSE share trading via M-Pesa M-Pesa revenue rose 15.2% to 161.1 billio...

Safaricom launches M-Pesa platform for stock trading in Kenya
03

MTN Group has no official presence in the Democratic Republic of Congo, where the mobile market is d...

DRC Accuses MTN of Illegal Operations, Spotlighting Border Frequency Issues
04

Ghana has 50,000 tonnes unsold cocoa at ports Cocoa prices fell from $13,000 to around ...

After Côte d’Ivoire, Ghana Faces Cocoa Stock Build-Up as Prices Collapse
05

This week in Africa, Africa CDC is stepping up its drive for health sovereignty, building new partne...

Weekly Health Update | Africa CDC Advances Health Sovereignty Efforts
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.