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Egypt Runs Out Of Money To Build New Grand Egyptian Museum

Egypt Runs Out Of Money To Build New Grand Egyptian Museum

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After numerous delays, Egypt’s Ministry of Antiquities has said that it needs a further $US 300 million to complete the Grand Egyptian Museum.

The announcement came as costs of the new museum rose from $US 800 million to $US 1.1 billion, said Antiquities Minister Mamdouh Al-Damaty.

According to the Minister, the increase in expenses came as the Egyptian pound weakened against the US dollar.

In an effort to boost funding, Egypt’s government has announced it will provide $US 37 million towards the completion of the Grand Egyptian Museum. A further $US 140 million will be provided from Japan. The Japanese Agency for Development Cooperation (JICA) had pledged to contribute towards 45 percent of the required financing of the Museum.

The Egyptian government further announced that it will form a committee to coordinate with JICA to explore new ways to finance and implement the project as it represents a “universal human value” and will provide Egypt’s national economy with a strong boost.

The Grand Egyptian Museum was set to open in 2015. It will be Egypt’s largest and primary museum and will be built over 117 acres.

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  • tvcaldwell

    We will be hearing more and more about such “money running out” stories. They should conduct search on Sissy’s house and those of his cronies. But the question is who is going to do it?

    The corrupt military and judiciary have taken control over the aid organisations as well. The loot and plunder continues. I really feel for the Egyptian poor people.

  • mazen
  • Osama Koriech

    There is nothing wrong with that. Costs of all projects allover the world spiral out of control. In Egypt, my question is how much of this is due to corruption and how much is genuine? Corruption in Egypt is thriving out of control. Do not believe the media claiming otherwise.

  • Erika Trueman

    I hope that the exhibits will be labelled better than in the wonderful Cairo museum. I love browsing there for days, but often wish I knew what I was looking at.

  • M Youssif

    False news, please investigate before you publish.

  • neil sutherland

    With $140 million (from Japan/JICO), I could build my entire “Museum Complex” of Egypt’s National Art museum, National museum of Natural History, Agriculture museum, Archeology/Anthropology museum, and Science and Technology museum. Located south of 6th of October, on 1 million sq mtrs, it gives visitors to Egypt something to do the day after they see the pyramids and grand museum. It doesn’t duplicate the museum in Tahrir square, so it gives tourists another reason to visit Egypt. Of course, it doesn’t pretend to match or exceed the visitor numbers of Paris or London.

    • D.T.

      1.1 billion sound really ridiculous for construction here.
      with that kind of money, a minimum of 300 new schools could be built, staffed and run for 8 years to come.
      Many kids could be taught properly to actually move Egypt forward.
      Not just to generate a little revenue from yet another tourist attraction and another prestigious project for the new government.
      When in Europe people talk of a Napoleon Complex, the same disorder must be called Ramses Complex in Egypt.

      • Minymina

        The project is entirely funded by the JICA (Japanese Agency for Development Cooperation). The Egyptian goverment hasn’t contributed up until this point.

        The price tag is ridiculous but it should be noted that this museum, when finished, will be the largest in the world and will have enough space to showcase and preserve priceless ancient artifacts.

        • Commander_Chico

          It will just tourists away from downtown Cairo, which is a shame for them and downtown Cairo businesses.

          Next, they’ll build another airport out there in Giza.

          • Carole Talaway

            The museum is near the pyramids and Mena House and all the hotels in that area. It is a tremendous structure and grounds as well. It will be quite spectacular when finished. If they tacked on money to the visa fees or let Hussein Salam back in to the country once he pays his promised millions to the country the money could help with this. The museum will be financed eventually and will be finished.

          • Maha el-Sidfy

            It is not a shame at all, with the state of traffic in Cairo it would give visitors the option, those who have no time on their hands and cannot afford wasting 5 hours commuting can do the essentials and leave to maybe Luxor & Aswan. But I heard no news about an airport in Giza! is this a fact?

          • Gloria Bye Port Douglas Q/d

            I have just returned from Egypt after a few failed attempts of visiting, it was a dream holiday and I shall return as soon as the new museum is completed, also will do a 7 day Nile cruise, what a wonderful place to visit and such lovely people.

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