Financing development projects in Bir al-Abd villages

8 Jan 2018

Minister of Local Development Dr. Hisham El-Sherif signed on Monday a protocol of cooperation between the ministry and the Misr Al- Kheir Foundation and the National Bank of Egypt in the presence of Dr. Ali Gomaa, Chairman of the Board of Trustees of Egypt, and Hisham Okasha, Chairman of the National Bank. In the village of Bir al-Abd in North Sinai.
Dr. Hisham said that the protocol aims to support the economic development projects of 24 villages of the city of Bir al-Abd in all sectors of economic activity, especially in agriculture projects, livestock development and industrial activity to provide job opportunities and eliminate illiteracy and unemployment.
He added that the ministry will coordinate with the relevant ministries and the governorate of North Sinai to provide the necessary land for the establishment of projects and overcome the obstacles in terms of the necessary licenses that the National Bank of Egypt to provide funding for the establishment of such projects, the minister pointed out that the Foundation will provide technical support for projects with her Marketing Process.

The Minister of Local Development explained that the protocol of cooperation comes within the framework of the Ministry's efforts to stimulate and encourage investments in the most favored areas and implement the land development policy for development purposes and make them available to investors and facilitate their access to licenses. Dr. Hisham said that the ministry is also seeking to establish urban complexes through the establishment of micro- Small and medium-sized enterprises and the corresponding impediments to their activities.
The minister said that the aim of this protocol is also to provide employment opportunities and transform this city into a region without unemployment. He added that Egypt's good and the National Bank have models proved successful on the ground and we seek to create hope for the people of Bir al-Abd. The real development by creating jobs in all governorates .
For his part, Dr. Ali Gomaa thanked Dr. Hisham Al-Sharif and the President of the National Bank for their efforts to develop the villages of North Sinai. Juma praised the strong cooperation between the government and its various ministries, Egyptian banks and civil society. He said that we seek to build and progress. Give it what it deserves.
Hisham Okasha said that the bank is seeking direct financing for all projects that will be proposed and implemented to create job opportunities, which will be a great addition to the people of the region after the problems and troubles experienced by the residents of that region.