EFG-Hermes donates EGP 50m for poor villages

EFG-Hermes has signed a memorandum of understanding (MoU) with a Kuwaiti initiative affiliated with the Kuwaiti Red Crescent, to fund the development of Makhzen village in Qena Province.

The project will contribute to a solution for infrastructure issues, poverty, education, food security, unemployment, and sanitation issues.

Minister of Social Solidarity Ghada Wali thanked Kuwait for its continued support of Egypt during the signing ceremony on Thursday morning at the Four Seasons Hotel. She emphasised the importance of this project, which forms a model for partnership and development partnership between the public and private sectors.

Wali stressed her keenness to support this and all Arab social development projects, which have been undertaken by Kuwait, Saudi Arabia, and the UAE in recent years.

EFG-Hermes Chairperson Mona Zulfikar said her company seeks, through scientific and field studies, to develop the neediest areas in Egypt by combating poverty, developing health care, education, housing, water, and sanitation. The company also seeks to develop and fund small projects that work to create jobs and income for young people in Egypt.