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Cabinet agrees $400m World Bank loan for social safety nets: El-Kawish - Daily News Egypt

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Cabinet agrees $400m World Bank loan for social safety nets: El-Kawish

Loan will support Egypt in creating "Solidarity and Dignity" cash support programme, says cabinet statement

The cabinet has given final approval to the presidential draft resolution for a loan agreement to create a support social safety nets project. The $400m World Bank loan will be given to the Egyptian government for reconstruction and development of social safety support nets, according to cabinet spokesperson Hossam El-Kawish.

El-Kawish added that Egypt had initially signed the agreement in Washington on 17 April. The project aims to support the Egyptian government in creating the cash support programme, entitled “Solidarity and Dignity”. The programme works efficiently and effectively through the Ministry of Social Solidarity,in cooperation with Ministry of Planning.

According to a statement after the weekly cabinet meeting on Wednesday, the solidarity and dignity programme aims to provide cash support to create an effective and fair social safety net that alleviates the suffering of the poor.

The social safety net targets categories that suffer from poverty in all its forms. This would be through objective targeting of families with low economic and social indicators, which prevent their attaining basic needs and maintaining health and educational rights of their children.

The social safety network extends to the category of those unable to work or produce, such as elderly people “over the age of 65 years” and people with permanent disability. The programme also targets the poorest governorates according to maps of poverty and income and spending research statistics.

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