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NBE’s CSR contributions hit EGP 6bn in 5 years
The National Bank of Egypt (NBE) channeled a total of EGP 6 billion for Corporate Social Responsibility (CSR) activities over the past five years, according to a recent report.
The funds are allocated for supporting the health and educational sector as well as developing slums, combating poverty and supporting female breadwinners and handicapped people.
The bank’s total contribution to CSR activities stood at EGP 1.526 billion in the 2018-2019 fiscal year.
The funds backed the development of 17 of most needy villages in Egyptian addition to several other areas.
The bank’s major CSR activities:
In 2019, the National Bank of Egypt (NBE) donated 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 has also donated EGP 44 million to support the first two stages of the hospital.
Shefaa Al Orman Hospital – which was opened almost three years ago – received around 14,500 patients across the nation. It has provided chemotherapy treatment to 270 cancer patients on daily basis.
The facility – whose motto is “For A Cancer Free Upper Egypt” – contains 156 beds, 102 chemotherapy chairs, emergency clinics and 15 out patient clinics. It is also equipped with four operating rooms to operate on ten patients per day.
The bank 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 which will be the first and the largest non-profit burn specialized medical complex and research center in Egypt, the Middle East and Africa.
The hospital is designed with 120 bed capacity in phase one of its construction and expandable to 180 beds in phase two.
Ahl Masr Burn Hospital is a non-profit medical complex that comprises of emergency and medical services including operating suites, diagnostic imaging, rehabilitation and psychotherapy, laboratories, outpatient services, oxygen therapy unit, intensive care unit, inpatient wards, visitors and out-comers’ facilities and Ahl Masr foundation premises.
The bank’s CSR strategy also backs SMEs:
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.
The bank has channeled about EGP 300 million for supporting female entrepreneurs and SMEs.
The bank has 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 aimed to address labor force skills mismatch, which constrains businesses in their growth, and create better and more sustainable jobs, including for young people.
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