Minister of International Cooperation Rania Al-Mashat met Sunday with a World Bank Group delegation headed by Marina Wes, Country Director for Egypt, Yemen and Djibouti at the Bank, to discuss developments in the joint social housing financing programme. The meeting also included Robert Bogoda, Director of Operations in the Middle East and North Africa; Mai Abdel Hamid, CEO Social Housing and Mortgage Support Fund; and the World Bank and the Ministry of International Cooperation working teams. In addition to providing 25,000 social housing units in accordance with green building standards, as the first initiative of its kind in Egypt, the social housing financing programme has created job opportunities through the construction and development sector and provided 3 million direct and indirect job opportunities over the course of the programme. For their part, the World Bank Group mission praised the results achieved by Egypt in the social housing file, which is one of the largest programs of its kind in the world, which enhances efforts to provide adequate housing for citizens with lower incomes. They affirmed that this model prompted many member countries of the World Bank Group to start inquiring about these efforts and the possibility of repeating them with the World Bank in order to implement the same model in different countries, especially in Africa.

Source: Daily News Egypt December 13, 2022 17:36 UTC