Egypt: Sisi Asserts Importance of Enhancing Activities of 'Tahya Misr' Fund

Sisi asserts importance of enhancing activities of "Tahya Misr" Fund

President Abdel Fattah El Sisi on Tuesday 6/10/2020 underlined the importance of continued efforts to shore up the activities of "Tahya Misr" Fund (Long Live Egypt Fund) in the areas of health care, social support, urban development, economic empowerment, education and vocational training, crisis and disaster management as well as all other domains affecting all aspects of the daily life of the Egyptian citizens.

This came at a meeting he convened with his adviser for financial affairs Mohamed Amin, according to presidential spokesperson Bassam Rady.

The meeting tackled the numerous activities of the fund and its future projects, he said.

Amin sheds light on the pivotal role played by the Fund in support of the national development strategy through its cooperation and coordination with the various governmental departments, civil society and the private sector, a thing which led to a paradigm shift in the level of social services provided to all citizens, especially the underprivileged and the most in need, via the adoption of an integrated package of projects and programs along with the introduction of modern flexible tools to finance youth and women projects.

On June 24, 2014, President Sisi gave up half of his salary (42,000 Egyptian pounds, then about 5,900 US dollars) and half of his wealth to Egypt's Tahya Misr Fund. He called upon Egyptians to exert their maximum effort and cooperate in light of the country's challenging economic conditions.

On July 1, 2014, the Presidency of the Arab Republic of Egypt announced the launch of "Tahya Misr" Fund to activate the previously-announced initiative by the President to establish a Fund in support of the economy.

The Presidency issued a statement saying: "This step comes in recognition of the critical time the country is going through and the hard economic and social conditions that moved their positive feelings towards their homeland.

These conditions have also revealed the national determination and the true will of the great Egyptian people to shape a promising future that reflects Egypt's rich heritage and its people's sacrifices."

Believing in the necessity of utilizing Egypt's full capacities and potentials, a major tool for nation-building in the light of the challenges faced at all levels, particularly the economic one, the Central Bank of Egypt (CBE) opened the door to donations from Egyptians all over the world in all Egyptian banks on account number 037037. The Fund is under the direct supervision of the President of the Arab Republic Egypt.

According to the presidency, the objectives of the Fund are:

* Achieving sustained and comprehensive economic growth and alleviating poverty.

* Meeting the needs of the most financially-disadvantaged.

* Establishing partnerships between local, regional and international sectors, a preliminary step for sustainable development.

* Encouraging the private sector participation along with the government agencies concerned in the development process.

More From: Egypt Online

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