The government has appropriated L.E. 300 million as a first batch for developing a number of risky slums.
Minister of Local Development Adel Labib said the decision comes within the framework of the government keenness to achieve social justice, adding top priority would be given to certain slums such as Ancient Manyal, Arab al-Maadi, Ezzbet el-Nasr, Abu Hashish, and Bashteel.
Meantime, Minister of Planning Ashraf el-Arabi will shortly announce the new amendment of the Suez Canal province development project in its final form with the aim of eliminating distortions made by the former government in the project.
He said the new amendments aim at satisfying the conditions of national security and help attract investments to the mega project.
Experts and observers have called for giving concessions to investors in land whose ownership will not be transferred to anybody with the aim of securing the success of the project.