Last Saturday, Banque Misr’s Chairman Mohamed El Etreby and Minister of Social Solidarity Nivine Al Kabbag signed a collaboration protocol to support economic empowerment projects for women and youth living in six villages covered by the presidential “Decent Life” rural development initiative.
The Social Solidarity Ministry and the bank will work together to carry out 15,000 projects under the terms of the EGP 300 million protocol, which should provide qualifying households with good employment opportunities.
A standard platform called “Tamkeen” will be launched this month to digitize all micro- and small-sized projects under the purview of Kabbag’s ministry and Nasser Social Bank (NSB), with a total of EGP 4.2 billion in capital set aside for that purpose, according to a statement from Kabbag.
On his part, Etreby said the reason for this new partnership between the two parties is that the bank is dedicated to collaborating with all pertinent state agencies to support any initiatives that aid in attaining economic empowerment for the most disadvantaged families in the villages covered by the presidential initiative, in line with the State’s policies to support these groups and achieve the goals of Egypt Vision 2030.
