El Etribi: Banque Misr spent EGP 800m on CSR projects

20 / 12 / 2019

By Marwa Nassar - -

Banque Misr Chairman Mohamed El Etribi said the bank spent about EGP 800 million on Corporate Social Responsibility (CSR) projects during the current fiscal year.

This marks an EGP 100 million rise in the bank’s spending on CSR projects in comparison with the 2017-2018 fiscal year.

The bank contributes to a large number to projects that are meant to realize social development, he said, referring to the projects to which the bank gave hand in the fields of education, health and rural development.

He added that the bank also worked on creating jobs as well as empowering youth and women, particularly female breadwinners.

On 18 December 2019, Banque Misr joined hands with the National Bank of Egypt to sign a cooperation protocol with the General Authority for Roads, Bridges and Land Transport to jointly contribute EGP 1.8 billion in three years for renovating the ring road of Greater Cairo.

The cooperation protocol falls within the framework of the CSR projects implemented by governmental bank.

In press statements on the fringe of the inking ceremony, El Etribi said Banque Misr is cooperating with the National Bank of Egypt in various domains to serve the Egyptian people and support state efforts to upgrade the services offered.

He added that the bank’s contribution by EGP 600 million to the ring road renovation underlined the bank’s pioneering role in the CSR score.

El Etribi said the bank always encourages partnerships in various sectors that serve the Egyptian community to offer a role model for means of giving hand to achieving sustainable development in society.

He added that Banque Misr is committed to the Global Reporting Initiative (GRI) – an independent international organization that has pioneered sustainability reporting since 1997, and the United National Global Compact – a UN initiative that establishes ten general principles for companies’ CSR activities.