Banque Misr has launched “Mashroat Express Platform” (or Express platform for projects) for the first time ...
Sisi launched several key funds to improve Egyptians’ life, serve SDGs
President Abdel Fattah El Sisi has launched several key funds to improve the Egyptians’ living conditions and serve the Sustainable Development Goals (SDGs).
President Sisi has bidden farewell to 2022 with the launch of the family care fund to help the Egyptian family face expenses and challenges, especially in light of a sharp increase in the country’s divorce rate.
Sisi has also spearheaded a special fund for “differently-abled” people and allocated EGP 100 million for Ataa Fund for supporting disabled persons.
The Tahya Misr Fund has participated in the establishment of Ataa Fund – the first charitable investment fund – with a contribution of 80 million pounds, to allocate its revenues in providing sustainable financing for the care of people with special needs in the areas of diagnosis, treatment, provision of prosthetic devices, education, skills needed to find job opportunities, community integration, and the different programs that support them.
Egypt has also launched the Sovereign Fund of Egypt (TSFE) with EGP 200 billion in capital. The TSFE aims to attract private investments into the Egyptian market by tapping underutilized assets that can boost the Egyptian economy.
In 2020, the TSFE ranked 43rd among 93 sovereign wealth funds globally in terms of asset size in a set of rankings created by the Sovereign Wealth Fund Institute.
Moreover, the president gave the go-ahead of Egypt’s Tahya Misr Fund (Long Live Egypt) in 2014 and called upon Egyptians to exert their maximum effort and cooperate in light of the country’s challenging economic conditions.
The Presidency issued a statement saying “This step comes in recognition of the critical time the country is going through and the hard economic and social conditions that moved their positive feelings towards their homeland. These conditions have also revealed the national determination and the true will of the great Egyptian people to shape a promising future that reflects Egypt’s rich heritage and its people’s sacrifices.”
“Believing in the necessity of utilizing our full capacities and potentials, a major tool for nation-building in the light of the challenges faced at all levels, particularly the economic one, the Central Bank of Egypt (CBE) opened the door to donations from Egyptians all over the world in all Egyptian banks on account number 037037,” the presidency website said.
The Tahya Misr Fund has achieved three Guinness Records for the largest donation campaign for medical devices in the world, the largest donation campaign for household appliances with 4,500 devices, and the largest donation of foodstuffs with a total of one million boxes directed to help our families.
These charitable works aim to eradicate poverty and encourage solidarity among various social groups.
The president was keen to launch these various funds to help Egyptians survive better life and serve the sustainable development goals.