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Middle East

Egypt's el-Sissi directs $127.7 million for housing units

Associated Press
Published | Updated

CAIRO – Egypt's state-run news agency says President Abdel-Fattah el-Sissi has ordered that one billion Egyptian pounds ($127 million dollars) worth of funds donated by government supporters be used to build 100,000 housing units.

MENA said Saturday the financing would come from Tahya Misr, a fund launched by el-Sissi in 2014 to collect donations in order to support the Egyptian economy.

Since overthrowing an elected Islamist leader in 2013, el-Sissi has vowed to revive an economy battered by years of turmoil. Egypt's outlook has grown bleaker in recent months, however, as Gulf aid has dried up and militant attacks have dealt a further blow to tourism and foreign investment.