The Central Bank of Egypt (CBE) announced that the banking sector allocated nearly EGP 2bn to support social and developmental projects in 2023, as part of its corporate social responsibility (CSR) strategy. The projects aimed to achieve the Sustainable Development Goals and align with Egypt’s Vision 2030. The banking sector also spent EGP 274.3m on community welfare, EGP 21.3m on rural and slum development, EGP 57.4m on supporting people with disabilities, and EGP 27.3m on women empowerment. Additionally, the Egyptian banks supported entrepreneurship and SMEs with EGP 22.8m, environmental projects with EGP 29.5m, and sports, arts, and culture with EGP 30.8m, among other community initiatives. The CBE reaffirmed that the banking sector will continue to support national initiatives that aim to help the most vulnerable segments and improve society.

Source: Daily News Egypt March 03, 2024 10:09 UTC