World Bank grants $60 m for monetary subsidies program

CAIRO – 24 June 2017: The World Bank will deliver soon a $60 million installment to fund the monetary subsidies program Takafol wa Karama (Solidarity and Dignity) launched by the Ministry of Social Cooperation in 2015.

The decision was made after the seventh periodical follow-up that took place this week in Egypt and was made by a nine member delegation. The total grant value is $400 million, of which $305 million are already delivered.

The visit lasted for five days and included meetings with program’s officials and field trips to Fayoum and Beni Sueif governorates where delegates met with beneficiaries.

The delegation praised the geographical expansion of the program while maintaining its quality. The delegation stated that transparent checking mechanisms are set in the program. It reviewed the mechanisms deployed for grievance, social accountability, and community service verification as well as governors’ roles in the program.

As program is conditioned on enrollment of beneficiaries, the delegation reviewed cooperation mechanisms between the Ministry of Social Cooperation and other ministries to validate the condition is met by beneficiaries.

The delegation stressed that the program is an outstanding model in the region, and that the World Bank would send delegations from other Arab countries such as Sudan to learn from Egypt’s experience.

Takafol wa Karama program is funded by more than LE 10 million from the state’s budget in the fiscal year 2017/2018.