NBE, its workers donated over EGP 106m in five years

28 / 01 / 2020

• CSR
• news

The National Bank of Egypt (NBE) and its employees have donated over EGP 106 million over the past five years to cover the debts of imprisoned debtors to return to their families.

NBE Board Chairman Hisham Okasha said the bank’s charity association managed to help more than 9,100 imprisoned debtors from various governorates to be set free after paying their debts.

The bank started in 2014 with paying the debts of 140 imprisoned debtors and the number rose in 2019 to more than 9,100, he said.

Over the past five years, the bank donated EGP 73 million, while its employees contributed more than EGP 33 million for helping as much imprisoned debtors to return to their families, he added.

Okasha said the bank managed to accomplish this social mission in collaboration with Misr El Kheir Foundation which provides the bank with all needed social and legal information about imprisoned debtors in need for help.

He added that the bank is keen on expanding its Corporate Social Responsibility (CSR) activities out of its belief in the importance of supporting society, referring to the positive contribution of its workers in such charity works.

NBE CSR activities:

The NBE’s social role was not confined to just helping imprisoned debtors, the bank has been an active player in various educational, health and economic sectors.

In 2019, the National Bank of Egypt contributed to renovating the Academy of Arts in Giza governorate within the framework of its CSR strategy.

This is not the first time for the bank to give hand for upgrading the academy as the bank has previously contributed to revamping the academy’s Higher Institute for Theatrical Arts.

The bank has been interested in developing the Academy of Arts in particular because it is one of the most important academies, not only in the Arab region, but also in the whole world.

The bank’s CSR strategy has went beyond supporting the academy’s development to promote the Sustainable Development Goals through backing small and medium sized enterprises (SMEs) as well as female entrepreneurs and youths.

NBE’s support for SMEs, entrepreneurs:

The bank has channeled about EGP 300 million for supporting female entrepreneurs and SMEs.

The bank was also engaged in a pilot program with the European Bank for Reconstruction and Development (EBRD) from October 24, 2019 to November 27, 2019 under which EBRD provided a senior loan to the National Bank of Egypt of up to $ 20 million for on-lending to local private high growth SMEs, which commit to strengthening their capacity to train and retain skilled labor, in particular youth.

The program was meant to ultimately improve young people’s employability and ensure a supply of skilled workers for businesses, essential to support expansion plans.

The project aimed to contribute to building a more inclusive job market by expanding access to skills and employment opportunities, including for young people, who are faced with reduced access to such economic opportunities.

 The project sought also to contribute towards a more competitive private sector through developing the capacity of clients to better recruit, train and retain skilled workforce.

NBE’s contribution to health sector:

Within the framework of the bank’s CSR activities, the NBE donated in July, 2019, EGP 39 million to support the third stage of  Shefaa Al Orman Hospital which offers free medical services for cancer patients in the Upper Egypt governorate of Luxor.

The bank donated EGP 44 million to support the first two stages of the hospital.

The NBE has been active to support the health sector in Egypt. In April 2019, the bank donated EGP 300 million to establish Ahl Masr Burn Hospital –  the first and the largest non-profit burn specialized medical complex and research center in Egypt, the Middle East and Africa.

The bank spent more than EGP 6 billion over the past five years on its CSR activities.