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NBE, Banque Misr earmark EGP 60m for health sector
The National Bank of Egypt (NBE) and Banque Misr signed a cooperation protocol with the Ministry of Health to channel EGP 60 million into supporting the health sector in the face of the coronavirus.
Health Minister Hala Zayed underlined the importance of joining hands with all state institutions as this will largely contribute to helping Egypt overcome the current crisis and reduce its repercussions at all levels.
She hailed the pivotal role played by the NBE and Banque Misr in the current crisis, noting that these funds would help purchasing needed medical equipment for hospitals in order to be able to treat COVID-19 patients.
Meanwhile, NBE Board Chairman Hisham Okasha said the bank is keen on continuing to offer all needed support to state bodies to mitigate the impact of the coronavirus pandemic.
The bank was among the first institutions that rallied efforts to serve this end, he said, stressing that the social role played by the bank is prioritizing the health sector which is facing grave challenges.
Okasha noted that the bank’s contributions since the outbreak of the crisis stood at about EGP 750 million and the funds were allocated for buying needed equipment, preparing quarantine hospitals and supporting medical teams as well as people who were most affected by the crisis.
He noted that the bank allocated a total of EGP 8 billion over the past six years for Corporate Social Responsibility (CSR).
For his part, Board Chairman of Banque Misr Mohamed El Etribi said the bank is keen on playing a pivotal role in the field of the CSR – which is one of the most important factors for attaining the Sustainable Development Goals.
This also contributes to realizing comprehensive development in various social sectors, especially in the health and educational scores, as well as supporting poor villages and female breadwinners.
The bank allocated over EGP 600 million since the onset of the coronavirus crisis to support the state in the face of the repercussions of the pandemic.
The bank allocated a total of EGP 1.4 billion in the fiscal year 2019-2020, he said, adding that the bank earmarked over EGP 3.2 billion over the past five years.
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