An Egyptian Housing Ministry unit has backed a proposal to invest EGP425 million ($55 million) in developing slums across the country, a report said.

The investment will be part of the plan for fiscal year 2015-2016, Minister of Housing Mostafa Madbouly was quoted as saying in the Daily News Egypt report.

The proposal also falls within the medium-term plan for 2014-2017 of the New Urban Communities Authority, he added.

In 2015-16, it will target the completion of projects already initiated and launch of new projects with an amount of EGP28 billion ($3.67 billion), the report said.

All necessary facilities and infrastructure will be set up in the regions allocated for housing units, the minister said.

This will be in addition to treatment plants for drinking water in several cities including 6th of October City, New Damietta and Obour, he added.

A UAE donation will also ensure building of 50,000 units, complete with full facilities, to be completed in Badr City and Borg Al-Arab, Madbouly said.

The first phase of the project, named “Dar Masr”, will be constructed in cooperation with the Armed Forces Engineering Authority, Madbouly added.