In a landmark move to advance social protection, financial inclusion, and the elimination of child labor in Egypt, Banque Misr has signed a cooperation protocol with the International Labour Organization (ILO), aimed at addressing the socioeconomic roots of child labor through access to inclusive financial services and targeted community support.
The agreement was signed by Hend Fahmy, Head of Financial Inclusion and Mortgage Finance at Banque Misr, and Eric Oechslin, Director of the ILO Office in Egypt, during a high-level event attended by representatives from both institutions, along with diplomats from the Italian and Slovenian embassies in Cairo.
Empowering Vulnerable Families Through Inclusive Finance
This collaboration, part of the ILO’s broader initiative to combat child labor in Egypt, will focus on:
- Delivering financial literacy programs to underserved families, particularly in rural areas.
- Enabling access to banking services and microfinance solutions for low-income households.
- Supporting entrepreneurial activities and income-generating projects that serve as alternatives to child labor.
- Building on the ILO’s “Women Moving Forward” initiative to promote women’s economic empowerment.
The program is expected to directly benefit more than 5,000 individuals across four governorates: Assiut, Cairo, Gharbia, and Qalyubia—with a focus on families of children involved in labor and alumni of previous ILO-supported initiatives.
Tackling the Economic Roots of Child Labor
The initiative reflects a shared vision between Banque Misr and the ILO to reduce economic vulnerability among at-risk populations and prevent children from being pushed into labor due to financial hardship.
The project also involves cooperation with the Embassy of Slovenia, which supports the development of environmentally friendly, income-generating activities in areas where child labor is most prevalent.
Banque Misr: A Model of Social Impact and Sustainability
This initiative is the latest in Banque Misr’s growing portfolio of CSR and sustainable development programs, positioning the bank as a national leader in responsible banking. The institution continues to support initiatives that uplift marginalized groups, promote entrepreneurship, and align with global goals such as the UN Sustainable Development Goals (SDGs).
