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Egypt will begin a rollout of its new comprehensive health insurance system in July this year, the country’s Minister of Finance has revealed.
In an exclusive interview with Zawya, finance minister Mohamed Maait said that the system would be rolled out gradually over a 15-year period in six phases, which will start in July this year in the governorate of Port Said. This area was chosen because of its sparse population, but also because it has the necessary infrastructure in place.
“Around 80.000 citizens will benefit (from) the new system,” he said.
A new health insurance law was launched in Egypt last year. Moreover, in June last year the World Bank pledged $530 million to a five-year initiative aimed at improving healthcare standards in the country. Some $35 million has been dedicated to a highly-lauded Hepatitis C programme, with the remainder supporting the proposed new universal healthcare system.
Port Said is one of ten governorates earmarked for the first phase roll-out of comprehensive health insurance. The others are: Ismailia, Suez, North Sinai, South Sinai, Qena, Luxor, Aswan, Alexandria and Matrouh.
The minister was speaking on the sidelines of a conference held by the British Egyptian Business Association (BEBA) discussing the challenges and opportunities for potential investors in Egypt’s healthcare market.
Speaking at the conference, Mohamed Farid Saleh, the chairman of the Egyptian Exchange, said that the country “enjoys a huge boom in investment opportunities for all investors in the health care sector, especially as the investment climate in Egypt in general Is witnessing growth, development and support at all levels - both legislative and service and infrastructure”.
He said the country’s desire to provide all of its citizens with better healthcare “gives investors real opportunities” to provide healthcare services to the market or invest in new projects.
(Reporting by Marwa Abo Almajd; Editing by Michael Fahy)
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