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Financial crises, corruption cripple Egypt plans to develop rural areas

December 30, 2020 at 9:27 am

Egyptian man rides a loaded donkey in the northern rural province of Menufiya on December 16, 2017 [MOHAMED EL-SHAHED/AFP via Getty Images]

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.

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