Minister of Youth and Sports Ashraf Sobhy attended the signing of a protocol between the Ministry and cred, a real estate development company, on Thursday. The protocol aims to support the Egyptian champions who will win medals at the Paris 2024 Olympics, in the presence of Ahmed Mansour, the CEO of cred, as well as senior officials from the ministry and cred, and journalists and media personalities.
According to the protocol, cred agrees to reward the gold, silver, and bronze medalists with financial prizes during the tournament, in coordination with the ministry. The gold medalists will receive EGP 1m, the silver medalists will get EGP 500,000, and the bronze medalists will earn EGP 250,000. The champions will also be honoured at another press conference in Egypt after their return from the 2024 Paris Olympics.
The Minister of Youth and Sports emphasised the importance of following the directives of President Abdel Fatah Al-Sisi to support the Egyptian sports heroes, saying: “The sports system is achieving many successes thanks to the support of the political leadership and the determination of the Egyptian players to give their best performance, which results in winning various titles.”
He added: “The importance of cooperation between the government and the private sector and the unification of all efforts to support the players financially and morally through programs and camps is essential. Egypt has a national program that serves the players and discovers new talents across the country. These players represent Egypt and our goal is to always be represented by the best.”
Ashraf Sobhy explained that the Ministry continuously provides direct financial support to the sports federations to cover the costs of preparing the players technically for all international, regional, continental, and Arab sports events, as well as sponsorship programs offered in cooperation with private sector entities.
Ahmed Mansour, CEO of cred, also expressed his enthusiasm for the collaboration with the Ministry of Youth and Sports, and for the practical participation in supporting the sports talents in the country, saying: “Encouraging and supporting the youth in their pursuits is a responsibility for all of us. This collaboration is part of cred’s social goal that aims to support the efforts of the Egyptian state to create a generation of heroes who can compete globally.”
The protocol was signed by Mohamed Al Kurdi, Head of the Central Sports Performance Department, on behalf of the Ministry of Youth and Sports, and by Mohamed Maher, the vice of cred’s CEO, on behalf of cred.
The signing ceremony was attended by the members of parliament Mohammed Al-Jarhi, Deputy Nasser Hidaya, Mohamed Al-Slab, and a group of leaders of the Ministry of Youth and Sports.