Cairo, Thursday, November 13th, 2014
The EFG Hermes Foundation signed a Memorandum of Understanding
with the Kuwaiti Initiative Group for the Support of the Egyptian People today,
as part of the continued joint efforts towards sustainable development. The
memorandum endorses the strong ties between Egypt and Kuwait, and embodies an
agreement to finance the integrated developmental project of the village of Al-Makhzan,
located in Koos Center in the Governorate of Qena. This agreement exemplifies
the resilient and continued social development role played by the private
sector and its goal is to find solutions for challenges with infrastructures,
poverty, education, food safety, and unemployment and sewage issues in the
village.
The signing ceremony took place at the Four Seasons
Nile Plaza Hotel and was attended by HE Dr. Ghada Wali, Minister of Social
Solidarity. On behalf of the Egyptian government, Dr. Wali thanked the people
and the government of Kuwait for their continued support of Egypt. She highlighted
the importance of the project as a model case of cooperation between the two
nations, and stressed on the fact that it is a prosperous developmental
partnership between the private and public sectors that must be replicated. Dr.
Ghali promised to provide all the support needed to allow similar Arab-driven
social development projects in Egypt, which have proven their success over the
past years within several collaborations with Kuwait, Saudi Arabia and the
United Arab Emirates.
Dr. Ghali emphasized the importance of this development
project in Al-Makhzan Village in Qena Governorate and spoke of the success of
previous developments, the likes of the project that was undertaken at Ezbet Al-Sheikh
Yaaqoob in Bani Suwaif.
On her part, the Non-Executive Chairperson of EFG
Hermes and Chairperson of the EFG Hermes Foundation; Mona Zulficar expressed
the deep interest of the EFG Hermes to continue – through such exemplary
development projects – to actualize and endorse the concept of sustainable development
in Egypt along three dimensions; economic development, social advancement and the
preservation of the environment. On the topic, Mrs. Zulficar said, “The Foundation,
by carrying out field studies, seeks to identify the real needs to help develop
the less privileged parts of Egypt. Byfighting poverty and improving healthcare
services, education, housing, and water and sewage systems, in addition to
funding small enterprises that can create job opportunities for Egyptian
youth.” Zulficar explains, “It is necessary to spread awareness about the necessity
of adopting a new philosophy in development work in Egypt; one that merges between
social and developmental perspectives. These projects face huge challenges that
cannot be confronted by donations and grants alone, but through the
implementation of carefully studied and laid out plans targeted towards sustainable
development.”
On her part, Mrs. Adla Mussaed El-Sayer; Head of the
Kuwaiti Initiative Group for the Support of the Egyptian People, affirmed, “The
historic ties binding Egypt and Kuwait span political, social, economic and
cultural arenas.” El-Sayer revealed that members of the Kuwaiti initiative have
provided 276 thousand Kuwaiti Dinars (approximately 7 million Egyptian Pounds)
in donations from the Kuwaiti people to cover the costs of the project, which
has been carefully planned by experts and consultants in accordance with
specific scientific standards, including a study of the local community and the
degree of basic needs within that group.
Hanaa Helmy, Chief Executive Officer of
the EFG Hermes Foundation commented on the topic saying, “Since its initiation,
this project has embodied transparency in all aspects, including the planning
and future execution plans, with the simultaneous implementation of the
principles of sustainable development taking place.” Mrs. Helmy further explains,
“EFG Foundation and the members of the Kuwaiti Initiative for the Support of
the Egyptian People have together presented a comprehensive field study for the
Al-Makhzan Village in the small town of Koos in Qena Governorate. This nine
month study was undertaken by consultants and technical experts who provided a
detailed feasibility study in order to come to terms with the actual and basic
needs of the residents and which has revealed that the number of those living
under the line of poverty has reached 80% of the population of Koos.”
The detailed
development project in Al-Makhzan in Koos Center in Qena Governorate shows how
it eyes multiple dimensions, including housing, health, education and food
supply. Accordingly, the project will undertake the construction and renovation
of 362 houses, and a new school over an area of 400 square meters. The project
also entails provisions to the existing school including furniture, scientific apparatuses
and laboratory requirements, as well as maintenance work, renovations and the
construction of a new bakery.
Al-Makhzan Village development project represents an
extension of the vision of EFG Hermes Foundation for Social Development, which
aims to combat poverty through sustained development in the villages and rural
areas of Egypt. The vision is based on diversity and does not focus solely on
one sector such as education or health. Rather, it aims to rehabilitate society
as a whole, including infrastructures, human development and the entire economy.
This vision has been exemplified in the reconstruction and development project
held in Ezbet Yaaqoob in Bani Suwaif Governorate, where the Group supervised
the reconstruction and improvement of 450 houses, the construction of a water
treatment plant and the development of a service center that includes a clinic,
a nursery, a bakery, a training facility and a dairy milk factory, all at the
cost of 27 million Egyptian Pounds. This project was inaugurated in 2010.
In that respect, EFG Hermes donated 50 million
Egyptian Pounds earlier in the year to the EFG Hermes Foundation to endorse its
efforts to support the development of several villages in the more poverty-stricken
areas of Upper Egypt. The funds are to be distributed starting 2015 in
accordance with the laid out executive plan. The projects are expected to serve
and benefit more than 30 thousand Egyptians.
