Egypt's Senate passes bill regulating work of 'Digital Egypt Fund'

CAIRO – 25 December 2022: The Senate passed Sunday the bill regulating the work of 'Digital Egypt Fund' which was drafted by the government and referred by the House of Representatives.

The bill is aligned with Article 25 of the constitution, and that mandates the government to eliminate digital literacy among citizens of all ages. In addition to that goal, the fund is also aimed at financing digital transformation at different state institutions.

The fund's resources, as indicated in the bill, are:

Monetary and in-kind donations from individuals and institutions.

Loans agreed upon through other official establishments.

Revenues made through research and innovations produced by the fund.

Revenues made through services provided by the fund.

Revenues made through investments made the fund.

Allocations made by the government from the treasury's budget.