Arab Finance: Egypt has inaugurated four schools within the first phase of the cosmic village land development project in Ocrober Gardens City, according to a cabinet statement on November 2^nd.

The project is being implemented in partnership with private-sector education pioneers and The Sovereign Fund of Egypt (TSFE).

“The Cosmic Village’s school complex is considered as one of the development projects that is in line with the country's vision that education is one of the most important priorities to achieve the desired development," Minister of Planning and Economic Development and Chairperson of TSFE Hala Elsaid said. 

Public spending on education grew by approximately nine times in fiscal year (FY) 2023/2024, compared to FY 2014/2015, the minister said.

The project also aims to give middle-class Egyptian families access to top-notch education at an affordable cost.

The first phase is set to include five schools and a sports club.

Elsaid announced before that Egypt allocated EGP 99.4 billion in the FY 2023/2024 budget for the development of educational services.

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