CAIRO: President Abdel Fatah al-Sisi announced Sunday the government will allocate 10 billion EGP ($1.7 b) to launch industrial development projects and an anti-terrorist campaign in the Sinai Peninsula, according to Youm7.
During his meeting with representatives of political parties and other public figures Sunday, Sisi said “a security fight against terrorism cannot be effective if it is not accompanied by a specific economic plan to develop the Sinai.”
The meeting comes in the wake of the series of deadly attacks that killed at least 40 security personnel and civilians in North Sinai Thursday.
Although it is three times the size of the Nile Delta, around 500,000 Egyptians, representing 1 percent of Egypt’s population, live in the Sinai Peninsula. According to the report issued by the Social Fund for Development in 2013, 45 percent of the Peninsula’s inhabitants are under the poverty line.
During the meeting, Sisi addressed leaders of political parties and called on “the necessity of forming a national alliance to support Egypt in its fight against terrorism,” Youm7 reported.
In August, Sisi launched the Suez Canal Development Project which involves the building of a new canal parallel to the Suez Canal. The project is aimed at bolstering Egypt’s economy.