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CIB honored by Egyptian presidency for its CSR commitment over major contribution to baby incubators nationwide
The Commercial International Bank (CIB) was honored by the Egyptian presidency for securing all needed equipment to 306 baby incubators in various Egyptian governorates in tandem with charitable fund of Tahya Misr (“Long Live Egypt”) .
CIB Board Chairman Hisham Ezz el Arab received the certificate of appreciation and stressed the bank’s commitment to its social responsibility, especially through developing health services for children nationwide.
The bank’s establishment of more baby incubators goes in line with a protocol inked in August between the bank and Benha University to extend up-to-date equipment to new incubators at the university’s hospital. The university was seeking to improve health services and contribute to solving the incubators’ crisis in the governorate, he said.
He noted that the bank channeled 15 percent of its annual profits to support children.
He expressed gratitude to the Egyptian presidency which crowned the bank’s pioneering efforts in the CSR score, highlighting the bank’s efforts to disseminate the culture of social responsibility through its sustainable development department and the CIB Foundation.
CIB Foundation was established in 2010 as a non-profit organization dedicated to enhancing health and nutritional services for underprivileged children in Egypt, and registered under the Ministry of Social Solidarity as per the Ministry’s Decree No. 588 of 2010, the CIB Foundation focuses on sustainable development initiatives that result in positive, long-term outcomes.
Following the success of the CIB Foundation in 2011, CIB shareholders generously increased the percentage of CIB’s net annual profit to the Foundation from 1% to 1.5%. One hundred percent of the donations made to the account go towards the implementation of development projects for children. With this funding, the CIB Foundation is making valuable contributions in the area of child health and nutrition through various multi-faceted initiatives, including renovating and upgrading hospital infrastructure, purchasing medical equipment, and providing surgical and medicinal treatment to underprivileged children.
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