World Bank Allocates USD 500 Million for Egypt's Social Safety Net
67% of the cash from Egypt’s social safety net program goes to people residing in Upper Egypt.
The World Bank has allocated USD 500 million to finance Egypt’s flagship Social Safety Net Program, aka Takaful and Karama. The financing marks the third phase of the collaboration between the government of Egypt and the World Bank to develop incentives that create sustainable incomes and help people climb out of poverty. The program currently supports 3.69 million households and 12.84 million individuals across Egypt. 67% of the cash from Egypt’s social safety net program goes to people residing in Upper Egypt. Meanwhile, women represent 74% of the program’s direct beneficiaries. The loan will support the Ministry of Social Solidarity’s economic inclusion programme ‘FORSA’. which creates job opportunities and provides people with relevant assets including handicrafts machinery, sewing machines, waste recycling equipment, livestock, small greenhouses, and post-harvest production units.
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