Egypt’s government recently decided to establish a new committee to oversee the administration of funds and assets held by Egypt’s Endowments Authority, in order to increase the current and future returns of these assets.
The committee was announced during a meeting attended by Prime Minister Hesham Qandil, Endowments Minister Talat Afifi, the President of Egypt’s Endowment Authority, the President of Egypt’s Survey Authority, the President of Egypt’s National Center for Planning State Land Use, and a number of officials from the Ministry of Investment to discuss the circumstances surrounding charitable land endowments in Egypt.
Qandil emphasised during the meeting the need for Egypt to reap increased benefits from the donation of charitable land endowments across the country. He said that this would be accomplished by Egypt’s Survey Authority identifying appropriate land to be used, purchased and donated by the Endowment Authority.
“We hope to cooperate with Egypt’s Endowments Authority to help make these lands available for use as sites for new industrial development projects, in order to provide increased work opportunities for Egypt’s youth and help combat unemployment,” he added.