By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Robert F Kennedy on the presidential campaign trail in 1968, as he talked about limitations of gross domestic product* (GDP). Alamy
    Beyond GDP: Changing how we measure progress is key to tackling a world in crisis
    March 21, 2023
    IMF reaches staff-level deal with Somalia
    IMF reaches staff-level deal with Somalia
    March 21, 2023
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    March 21, 2023
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    March 21, 2023
    SCZONE discusses cooperation with American-Hellenic Chamber of Commerce
    SCZONE discusses cooperation with American-Hellenic Chamber of Commerce
    March 21, 2023
  • Politics
    PoliticsShow More
    Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
    Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
    March 22, 2023
    Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
    Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
    March 22, 2023
    Shoukry confirms Egypt's full support to COP28 in UAE
    Shoukry confirms Egypt’s full support to COP28 in UAE
    March 21, 2023
    Egypt’s GAH, WHO discuss cooperation in health sector
    Egypt’s GAH, WHO discuss cooperation in health sector
    March 21, 2023
    Egypt, Turkey are not competitors in Libya: FM Cavusoglu 
    Egypt, Turkey are not competitors in Libya: FM Cavusoglu 
    March 21, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Government to finance EGP 37m worth development projects in Upper Egypt
Share
Notification
Latest News
Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Politics
Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
Politics
Robert F Kennedy on the presidential campaign trail in 1968, as he talked about limitations of gross domestic product* (GDP). Alamy
Beyond GDP: Changing how we measure progress is key to tackling a world in crisis
Business Opinion
IMF reaches staff-level deal with Somalia
IMF reaches staff-level deal with Somalia
Business
HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Government to finance EGP 37m worth development projects in Upper Egypt
Business

Government to finance EGP 37m worth development projects in Upper Egypt

Daily News Egypt
Last updated: 2020/06/15 at 3:50 PM
By Daily News Egypt 3 Min Read
Share
SHARE

The Ministry of Agriculture and Land Reclamation has signed a cooperation protocol worth EGP 37m with the Ministry of Social Solidarity that will go towards funding 2,400 development projects in Upper Egypt. The planned projects will be implemented by the comprehensive development projects authority, affiliated to the Ministry of Agriculture.

ElSayed ElKosayer, Minister of Agriculture and Land Reclamation, said the protocol aims to improve the living standard of citizens in the poorest and neediest areas of Upper Egypt.

The development activities will come in the form of micro-projects and integrated small service projects that serve the targeted population segments of these regions.

ElKosayer explained that his ministry’s role is to provide technical support, qualify project owners nominated by the Ministry of Social Solidarity, and provide guidance to them. The ministry will also enable the participants to acquire management and operating skills.

This would happen via a delegation contract between the Ministry of Social Solidarity and the comprehensive development projects authority, with the ministry providing funding. In turn, the authority will handle consideration of the beneficiaries and their capabilities, and then nominate projects that are appropriate for their circumstances.

The implementation and management of the project will take place through a coordination committee set up between the ministry and the authority.

Minister of Social Solidarity Nevine El-Kabbaj noted that the partnership is in line with her ministry’s keenness to invest in people. The partnership also serves the ministry’s direction in moving from social protection to development and economic empowerment.

She stressed that this protocol focuses on supporting small farmers and small producers in the countryside. A total of 67% of the recipients of cash support programmes are from rural areas, with rural women making up 75% of the cash support card recipients.

She emphasised that the cooperation between the two ministries will take place through the Nasser Social Bank, which represents the Ministry of Social Solidarity’s economic arm. Those who obtain the facilitated loans will have bank accounts opened for them to ensure electronic transfers of monthly instalments can be made. This move towards e-finance mechanisms is in line with the Egyptian state’s trend towards financial inclusion.

El-Kabbaj pointed out that the protocol includes setting an integrated plan of action for the development of families and regions in need. This will take place through preparing studies, implementing agreed actions and projects, and providing financial and technical support necessary for the implementation and follow-up of these programmes and projects.

Support will also be provided for marketing the products of these projects, which leaves a positive impact on the level of living of individuals in these areas.

You Might Also Like

Beyond GDP: Changing how we measure progress is key to tackling a world in crisis

IMF reaches staff-level deal with Somalia

HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson

Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs

SCZONE discusses cooperation with American-Hellenic Chamber of Commerce

TAGGED: development projects, government, Upper Egypt
Share this Article
Facebook Twitter Email Print
Previous Article Madbouly inspects Ain Shams University’s new COVID-19 field hospital
Next Article Parliament Speaker Ali Abdel Aal Libya Amendments to House of Representative Law passed after MP debates
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Xi, Putin sign joint statement on pre-2030 development plan on priorities in China-Russia economic cooperation
Politics
Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
Xi, Putin sign joint statement on deepening comprehensive strategic partnership of coordination for the new era
Politics
Robert F Kennedy on the presidential campaign trail in 1968, as he talked about limitations of gross domestic product* (GDP). Alamy
Beyond GDP: Changing how we measure progress is key to tackling a world in crisis
Business Opinion
IMF reaches staff-level deal with Somalia
IMF reaches staff-level deal with Somalia
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?