Egypt - Mohamed Ashmawy — Vice Chairperson and Managing Director of Nasser Social Bank — announced that the bank pumped about EGP 371m to more than 21,000 beneficiaries of the Mastoura Programme.

Ashmawy explained that the activities that were funded varied between commercial projects — which were the majority — reaching 10,700 projects worth EGP 188m, followed by 7,886 animal production projects valued at EGP 143.676m, in addition to household projects and industrial and service projects.

He also stressed that the Mastoura Programme is one of the most successful Egyptian initiatives targeting women, which was already implemented on the ground in 2017 under the directives of President Abdel Fattah Al-Sisi.

He added that the initiative aims to take care of low-income people and raise the standard of living of citizens, protect the neediest groups, and empower women economically by providing them with job opportunities, explaining that the programme succeeded in covering development projects throughout the republic, including border areas such as Halayeb and Shalateen.

Furthermore, Ashmawy pointed out that the initiative succeeded in achieving its goal, as Mastoura financing was able to effect major change in the personal and professional lives of a large number of simple women and turned them into producers capable of working and earning a living. Moreover, the bank succeeded in encouraging those entitled to alimony to obtain financing in addition to encouraging them to save, open savings accounts in the bank, and expand their projects.

This came on the side-lines of the bank’s participation in the activities of the Diyarna Handicrafts Fair in Al-Alamein, which was inaugurated in the presence of Minister of Social Solidarity Nevine El-Kabbaj in a new step to allow marketing and promotion of the products of beneficiaries of the bank’s small and medium enterprise financing programmes, especially the financing directed to women.

This is due to the belief in supporting youth projects, advancing the capabilities of Egyptian women, activating their participation in economic development, and providing them with a decent life.

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