The Central Bank of Egypt (CBE) has revealed that the banking sector has allocated a total of nearly EGP 3.9 billion to various corporate social responsibility (CSR) projects in 2024. This substantial investment aims to support key service sectors, including healthcare, education, social welfare, and initiatives focused on empowering women and assisting persons with disabilities (PwDs).
Major Contributions to Healthcare and Social Welfare
The largest portion of these funds, amounting to approximately EGP 2.5 billion, was directed towards the healthcare sector. This move highlights the priority placed on improving healthcare access and quality, reflecting a continued commitment to better public health outcomes across Egypt. Following closely behind, the social welfare sector received nearly EGP 447 million to support various community-driven initiatives aimed at improving living conditions and providing essential services to the underprivileged.
In addition to these substantial contributions, significant amounts were allocated to support broader development projects. The banking sector directed EGP 178 million towards upgrading informal settlements and fostering development initiatives. These efforts are in line with national strategies to enhance the living standards of communities in need.
Focus on Women’s Empowerment and PwD Initiatives
The CBE also highlighted the bank’s emphasis on promoting gender equality and supporting marginalized groups. Nearly EGP 149 million was set aside for women’s empowerment programs, reflecting the banking sector’s role in encouraging greater economic participation for women. Furthermore, EGP 136 million was designated for projects that support PwDs, ensuring they receive the necessary assistance to improve their quality of life and access to opportunities.
Commitment to Education and SMEs
The banking sector’s investment in education amounted to EGP 110 million, aimed at improving educational infrastructure and providing opportunities for Egypt’s youth. Meanwhile, small and medium-sized enterprises (SMEs) received a boost with EGP 100 million allocated for entrepreneurship support. These initiatives are crucial for fostering innovation and sustainable economic growth at the grassroots level.
Additional Contributions to Culture and National Initiatives
Beyond essential services, banks also contributed to cultural and national projects. A total of EGP 22 million was allocated to initiatives in sports, arts, and culture, helping to nurture Egypt’s rich cultural landscape. Additionally, EGP 18 million was dedicated to supporting national initiatives, reflecting the banking sector’s broad commitment to national development goals.
Sponsorship of International Conferences and Continued Support
Further reinforcing its dedication to global development, the banking sector sponsored the “Global Congress on Population, Health, and Development,” allocating approximately EGP 153 million to support initiatives related to population health, sustainable development, and community well-being.
The CBE reaffirmed that these efforts are not only an investment in Egypt’s future but also a vital part of the banking sector’s ongoing role in supporting the country’s pursuit of sustainable development goals and improving the quality of life for citizens.
