(MENAFN- Daily News Egypt) Egypt's President Abdel Fattah Al-Sisi, on the 51st anniversary of the 6th of October War Victory, hailed the occasion as a defining moment in the nation's history, a symbol of its pride and dignity.
Egypt's President Abdel Fattah Al-Sisi
“On this very day, Egyptian military officers and their leaders wrote the most heroic tales of sacrifice and selflessness to reclaim the holy land of Sinai. They set an exemplary precedent, supported by a magnificent people, in resilience and the achievement of victory. They confirmed that the unity between the people and the armed forces is the impregnable fortress that has protected the Egyptian state throughout its history,” Al-Sisi said.
In conjunction with the anniversary, Egypt's Ministry of Planning, Economic Development, and International Cooperation highlighted the country's significant investments in the development of the Sinai Peninsula.
In a Sunday press statement, the Ministry announced that public spending allocated for projects in Sinai and the Canal Cities (North Sinai, South Sinai, Suez, Ismailia, and Port Said) from 2014/15 to 2024/25 amounted to approximately EGP 530.5bn.
Rania Al-Mashat, Egypt's Minister of Planning, Economic Development, and International Cooperation, emphasised the strategic importance of the Sinai Peninsula due to its geographical significance and historical importance. She highlighted that Sinai is a cornerstone of the Egyptian economy, owing to its vast natural and human resources.
Rania Al-Mashat
Al-Mashat also noted significant advances in the region over recent years, including improvements in infrastructure, healthcare, education, and the creation of thousands of job opportunities for the people of Sinai. Investments have also been bolstered in vital sectors, enhancing connectivity between Egypt's eastern gateway and other governorates.
She added that total public spending directed towards projects in Sinai and the Canal Cities reached EGP 58.8bn in 2023/24. Al-Mashat also highlighted the government's focus on promoting investment opportunities, with 377 investment opportunities available on the investment map across various sectors since the map's launch in 2018, including 180 industrial opportunities. In addition, three Investor Services Centers have been established, costing EGP 212.7m, serving 7,500 companies.
Al-Mashat outlined key development programs targeted for implementation in the fiscal year 2024/25 aimed at developing Sinai. These programs include a large number of projects in agriculture, irrigation, potable water, transportation and storage, education, and healthcare. She emphasised that the expansion of infrastructure development would open the door for increased private sector investments in the region.
The Minister also addressed the Ministry's role in mobilising local and international funding to address development gaps. Since 2016, vital developmental projects have been carried out in the Sinai Peninsula with concessional development financing, especially from Arab funds that have contributed to the financing of the Sinai Development Program, as well as other partners like the US Agency for International Development (USAID).
Since 2016, the Arab funds have financed 20 projects, including 11 projects funded by the Saudi Fund for Development, such as the King Salman bin Abdulaziz University Project, the establishment of 18 residential clusters and 4 fishermen's villages, a tertiary treatment plant for Al-Mahsimah wastewater to process 1 m cubic metres per day, a desalination plant in Al-Arish with a capacity of 100,000 cubic metres per day (expandable to 300,000 cubic metres per day), a canal to transfer water (the“Sahara”) with a capacity of 1 m cubic metres per day, the establishment of 13 agricultural clusters, the development of Crossroad 1 (Stage I) with a length of 61 km, and several road projects totalling hundreds of kilometres.
Additionally, 7 projects have been financed by the Kuwaiti Fund for Arab Economic Development, such as the 160 km Crossroad 4 project, the 350 km Taba-Sharm El-Sheikh road, the construction of a desalination plant in East Port Said with a capacity of 150,000 cubic metres per day, and the development of several water desalination plants in South Sinai.
In addition to Arab funds, as part of the development partnership with USAID, grants amounting to $5.3m have been allocated under the Comprehensive Economic Governance Agreement, and $50m under the North Sinai Initiative to finance the construction of five groundwater desalination plants, one seawater desalination plant, 14 deep wells, the renovation of two desalination plants to increase capacity, the drilling of two deep wells, and the creation of four water storage tanks to enhance storage capacity. Additionally, 50 trucks for water distribution and 10 trucks for sewage disposal have been procured, helping to expand access to potable water and expand drinking water networks to 126,000 citizens in Al-Arish.
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