Mahlab witnesses signing memo on funding, furnishing social housing units

Prime Minister Ibrahim Mahlab witnessed Wednesday the signing of a memorandum of understanding to provide funding and furniture services for social housing projects.

The memo was signed by Housing Minister Mustafa Madbouly, Governor of Damietta, head of Social Fund for Development (SFD) and head of Housing and Development Bank Mohamed Fathy.

The memo is part of efforts exerted by the government to create more jobs for the youth, Damietta Governor Ismail Abdel Hafiz said.

Under the memo, owners of the new housing units can buy furniture by a soft loan, Abdel Hafiz said.

Meantime, the SFD provides financial packages for furniture manufacturers to raise the competitiveness of their products.