The World Bank has asked the Housing Ministry to encourage increased private sector participation in low-income housing projects before the bank signs off on a USD 500 mn loan for the ministry, Federation of Egyptian Industries’ real estate development division head Tarek Shawky tells Al Shorouk. Representatives from the bank, ministry, and division have held several meetings to look into meeting the bank’s requirements, according to Shawky. The loan will be used to finance low-income housing projects established under a PPP framework.

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