World Bank Supports Egypt's Housing Program

The World Bank has allocated USD300 million to

to strengthen the country's housing subsidy scheme, develop better finance subsidy mechanisms and enhance transparency of its housing subsidies. "We are pleased to support the ongoing development of the mortgage market and the creation of a more efficient housing finance market that targets low and middle income groups," said Emmanuel Mbi, the bank's country director for Egypt, Yemen and Djibouti.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.