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Libya to fund most of $20 bln Egypt housing project

Posted on 16 December 2010

From Reuters: Libya will bankroll most of a 116 billion Egyptian pounds real estate project launched jointly with Egypt’s housing ministry to offer homes for millions of young Egyptians, an official said on Wednesday.
Libya would provide 78 percent of the capital for the 5,600 acre al-Fatih city on the outskirts of Cairo to be built over the next twenty years, while Egypt will pay the rest, said Abdel-Hamid Shaer, media adviser at the Housing Ministry……………………………………….Full Article: Source


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