Egypt’s planning minister discusses economic empowerment in villages targeted by 'Decent Life' with banks' CEOs

CAIRO - 15 Februay 2021: Dr. Hala El-Said, Minister of Planning and Economic Development, held a meeting via video conference technology to discuss a strategy for economic empowerment in villages that will be developed in the next phase of the presidential initiative "A Decent Life".

The meeting included Dr. Yasmine Fouad, Minister of Environment, Dr. Maya Morsi, Chairman of the National Council for Women, Mr. Tarek Fayed, Chairman of the Board of Directors of Banque du Caire, and Mr. Alaa Farouk, President of the Agricultural Bank El-Masry, engineer / Osama Saleh, president of AYADY company, and engineer Amr Abu al-Azm, president of a finance company.

During the meeting, the experiences of the entities and institutions participating in financing micro-projects that are commensurate with the nature of the Egyptian countryside were discussed and reviewed.

The meeting also discussed how to benefit from these experiences in formulating mechanisms for financing small and micro projects as part of decent life intervention.

Dr. Nada Masoud, Economic Advisor to the Minister of Planning and Economic Development, gave a detailed presentation on the proposed strategy for economic empowerment in the villages of a decent life, based on development indicators and surveys carried out by the Central Agency for Public Mobilization and Statistics, and the presentation included the most important sectors targeted for investment.

For her part, Dr. Hala El-Said stressed the importance of the economic empowerment component and the provision of decent work opportunities within the components of the presidential initiative "A Decent Life".

She also asserted the need to develop mechanisms to finance appropriate projects for each village, taking into account the competitive advantage in each rural community, benefit from past experiences, and coordinate according to what is happening on the ground of initiatives. It is carried out by partner ministries and destinations.

The Minister of Planning and Economic Development directed to study the possibility of implementing a pilot phase for some small and micro enterprises in two centers and many villages during the remaining months of the current fiscal year. To be evaluated and used with the launch of the new fiscal year and its expansion in all "Decent Life" villages and centers.