GAFI, Crédit Agricole Egypt sign MoU to attract FDIs
Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), and Jean-Pierre ...
Crédit Agricole, Schneider Electric launch sustainable development projects in Menoufia villages
Crédit Agricole Egypt Foundation for Development and Schneider Electric have jointly announced the launch of sustainable development projects in the villages of Shubra Qubala and Mit El Qasri in Menoufia Governorate.
The projects – implemented as per a memorandum of understanding between the two parties – aims at developing the Water, Energy, and Food Nexus in these villages by installing greenhouses, fishponds, chicken incubators, irrigation pumps, and a compost unit for recycling agricultural waste all powered by solar energy.
These projects meet the commitments of both entities to achieve the Sustainable Development Goals (SDGs), and are in line with Egypt’s Vision 2030 to achieve environmental sustainability, improve the life quality and living standards of Egyptian citizens, and empower women.
These projects are meant to impact approximately 26,000 local communities’ residents and 700 farmers, in addition to increasing crops’ productivity, resulting in the cultivation of approximately 1,600 different plants, yielding a total crop output of 40 tons. Moreover, the chicken incubators are expected to produce 12,000 hatched eggs per year and the fish pond is projected to generate an annual fish yield of 3,000 fish. The adoption of this technology will have a positive impact on the environment, reducing carbon dioxide emissions by approximately 68 tons/year and saving up to 70% of water consumption.
These projects were implemented as part of the Memorandum of Understanding (MoU) signed in June 2023, reflecting the enduring commitment to fostering partnerships and improving the quality of life for community members through sustainable projects. They contribute to increasing production, creating new job opportunities, elevating living standards, promoting social justice, and improving overall quality of life.
Building upon this successful partnership, Schneider Electric and Crédit Agricole Egypt plan to expand the scope of cooperation by implementing similar projects in several Egyptian villages, which will extend the benefits to more citizens in other areas in need.
Jean-Pierre Trinelle, Chairman of the Board of Trustees of Crédit Agricole Egypt Foundation for Development and Managing Director of Crédit Agricole Egypt Bank, explained: “We have been pleased to provide the necessary funding in order to develop sustainable projects using clean technologies in both Shubra Qabbala and Mit Al-Qasri in Menoufyia governorate. We are thrilled to witness the full operation of those projects only six months after signing the Memorandum of Understanding with Schneider Electric. Those projects reflect the dynamic synergy with Schneider Electric, and the great potential for impactful change through collaborative effort. Those projects reflect our commitment towards creating a greener future and helping improve people’s livelihoods in the local communities. We look forward to expanding our partnership to reach more villages in the future in alignment with Crédit Agricole Egypt’s ambition to better serve the society.”
Sébastien Riez, Cluster President of Schneider Electric Northeast Africa & Levant, said “Our involvement in community development projects began in 2019 when we initially signed the MoU with the Ministry of Social Solidarity to implement various initiatives in multiple villages. We are proud to continue this journey with the inauguration and operation of the community development projects in the villages of Shubra Qubala and Mit El Qasri in Menoufia governorate. These projects were successfully completed in a few months after signing the MoU with Crédit Agricole Egypt Foundation. This milestone reflects the essence of our culture and commitment to achieving sustainability through partnerships and expanding the use of clean energy sources and technology. Our ultimate goal is to create a positive impact on local communities, and we eagerly look forward to further joint cooperation to impact and benefit a greater number of individuals.”
اترك تعليقا