Egypt’s Tahya Misr Fund contributed LE 22B in various sectors nationwide: Presidency

CAIRO – 14 January 2023: Total contributions provided by the Tahya Misr Fund has amounted LE 22 billion in various sectors and fields nationwide, the Egyptian Presidency said in a statement on Saturday.

The statement came following a meeting between Egypt’s President Abdel Fattah El-Sisi and Advisor to the Egyptian President for Financial Affairs Mohamed Amin to follow up on the activities and contributions of the Fund.

The Fund has contributed LE 22 billion in various sectors, including LE 7 billion for urban development and alternative housing.

The allocated funds also include LE 11.5 billion for the health care field, such as measures related to the coronavirus pandemic as well as the various health initiatives and medical devices at hospitals.

Moreover, the Fund has allocated LE 1.3 billion for social protection initiatives and economic empowerment, and LE 1 billon for the cases of emergency and natural disasters.

This is in addition to LE 530 million for education, LE 400 million for securing job opportunities, LE 400 million for the investment sector, and LE 200 million for the gifted care program.

The President has directed the Tahya Misr Fund to continue providing its contributions and enhancing its activities and programs within the framework of a harmonious and fruitful partnership with government agencies, civil society institutions and the private sector.

This would mobilize the state's own capabilities as one of the tools for development and face societal challenges, the president said.

This also comes within the framework of the state's strategy to support and meet the needs of the most vulnerable families and raise the level of services provided to them, the president added.

The donation-based Tahya Misr Fund was established in 2014 to activate the president’s initiative to establish a fund that supports economy.

The fund seeks to achieve sustained and comprehensive economic growth, alleviate poverty, meet the needs of the vulnerable, and establish partnerships between local, regional and international sectors.

The fund also aims to encourage the engagement of the private sector along with the government agencies concerned in the development efforts.