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Banks allocate EGP 170bn to develop infrastructure of a number of areas in Cairo and Giza - Daily News Egypt

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Banks allocate EGP 170bn to develop infrastructure of a number of areas in Cairo and Giza

The Federation of Egyptian Banks (FEB) signed a cooperation protocol with the Department of Military Works of the Armed Forces Engineering Authority and the governorates of Cairo and Giza to develop the infrastructure and boost human development in Helwan, Badrashin, and Manishiet Al Qanater. According to Hesham Ezz El Arab, chairperson of the FEB, the …


The Federation of Egyptian Banks (FEB) signed a cooperation protocol with the Department of Military Works of the Armed Forces Engineering Authority and the governorates of Cairo and Giza to develop the infrastructure and boost human development in Helwan, Badrashin, and Manishiet Al Qanater.

According to Hesham Ezz El Arab, chairperson of the FEB, the banking sector in Egypt has come together to face the problem of slums, not only through financial support, but also by providing experts and balanced development, out of their belief that the development of slums is the key to activate sustainable development.

The new cooperation protocol with the governorate of Cairo includes the provision of EGP 100m to pave and develop some vital roads in the unplanned areas in Helwan, next to establishing a school complex and upgrading some of the existing schools with EGP 77m.The protocol also includes EGP 10m to establish a medical centre to provide service for the citizens.

Atef Abdel Hamid, the governor of Cairo, said that the partnership with the FEB to develop slums has contributed directly to improving the quality of service for the citizens in these areas.

Moreover, the FEB signed a cooperation protocol with Giza governorate worth EGP 70m to improve the water and wastewater pipelines in some areas in Badrashin and Manshiet El Qanater in order to improve the health of residents there, next to activating the FEB social responsibility initiatives in these areas, which comes in line with the FEB’s approach to balanced development, which focuses on human development as much as it focuses on infrastructure.

According to Mohamed Kamal El-Daly, the governor of Giza, contributing to the development of drinking water and the sanitation system has an impact on public health and the environment.

Dalia Abdelkader, chairperson of the Sustainable Development Committee of the FEB, said that the committee is becoming increasingly keen and insistent on each visit to the areas being developed to create a successful model that demonstrates the human and productive value of slums in Egypt, especially in light of the desire of residents and youth to develop them.

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