Egyptian projects to develop infrastructure in 100 rural areas are facing severe financial crises and corruption, Lebanese newspaper Al-Akhbar has revealed.
President Abdel-Fattah Al-Sisi launched the “Decent Life” initiative in 2019 in a bid to provide better living conditions for those most in need, the newspaper said, however, the Egyptian regime is facing a major cash flow crisis and is unable to finance the project.
The newspaper said that the Egyptian banks have stopped providing loans to the government for these projects.
As a result, Al-Sisi has called on Prime Minister Mustafa Madbouly to reduce the number of rural areas being developed from 100 to 50.
READ: Egypt hopes quality control will secure its place as top orange exporter