W.B Supports Social Safety Program Worth $500 Mln

Sahar Nasr, the investment and international cooperation minister, announced today, that the World Bank has approved additional finance worth $500 million to Egypt. The finance will be used to support the government’s efforts in expanding and improving social safety nets, according to the ministry.

Nasr reported that partnership with the World Bank builds on the success of the ''Takaful and Karama program'' and the Bank supports us in achieving our sustainable growth's goal for all Egyptians.

Sahar Nasr the investment and international cooperation minister

On other hand, Marina Wes the World Bank country Director for Egypt, Yemen and Djibouti explained that the the bank, through this program, continues to support Egypt's efforts to develop human resources and create jobs.

Noteworthy, ''Takaful and Karama program'' reached more than two million impoverished households nationwide, benefiting approximately nine million inpiduals across all governorates; women comprise 88 % of the programme’s beneficiaries.

Furthermore, the international financial institution currently has 16 projects in Egypt, worth a total of $7.5 billion.