The Prime Minister holds a meeting to discuss developing a vision for the comprehensive system for small and micro lending
Minister of Social Solidarity: Egypt has made great strides in the field of digital transformation, financial inclusion, and the availability of financial services at all levels
Dr. Mustafa Madbouly, Prime Minister, held a meeting today to develop a vision for the comprehensive system of small and microcredit, in the presence of Dr. Maya Morsi, Minister of Social Solidarity, Alaa El-Din Farouk, Minister of Agriculture and Land Reclamation, Yasser Sobhi, Deputy Minister of Finance, and Dalia El-Baz, Governor. With the work of the Head of the Postal Service, Counselor Sanaa Khalil, Vice President of the National Council for Women, Sherif Lokman, Deputy Governor of the Central Bank for the Financial Inclusion Sector, Engineer Ibrahim Sarhan, Chairman of the Board of Directors of e-Finance Company, Yasmine Abbas, Assistant Deputy Governor of the Central Bank for the Markets Sector, and Ambassador Naglaa Naguib, Deputy Assistant Minister of Foreign Affairs for Egyptian Economic Affairs, and Sami Abdel Sadiq, Acting President of the Agricultural Bank, in addition to a number of officials from the relevant authorities.
The President confirmed The Council of Ministers at the beginning of the meeting emphasized the importance of developing a vision for the comprehensive system of small and micro lending, especially in light of the existence of successful international experiences, such as the Bangladesh experience, which in turn contributed to achieving a development boom that was praised by international institutions.
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Dr. Mustafa Madbouly, in the same context, referred to Egyptian experiences and expertise in this regard, stressing the importance of coordination at the level of the concerned authorities. To develop a successful system that contributes to reducing poverty rates and achieving development goals.
In the context of the above, the Minister of Social Solidarity reviewed the “Proposal for a Strategic Financial Alliance for Economic Empowerment,” and began her presentation with a number From successful international experiences, including the experience of Grameen Bank. In Bangladesh.
Dr. Maya Morsi pointed out that “Grameen Bank” It provides its services to about 10 million borrowers, and is famous for its innovative model of microfinance. It contributes significantly to supporting millions of micro, small and medium enterprises, especially those led by women. It also aims to alleviate poverty and empower marginalized communities.
 
The Minister noted that “Grameen Bank” It provides educational loans, new loans for entrepreneurship, savings packages to improve the standard of living, and other savings and credit services.
In the same context, it reviewed the most important success factors for the Grameen Bank experience. Noting, for example, the provision of group and soft loans with long repayment periods, government-backed bonds to achieve stability, targeting women’s empowerment, and other factors.
Also. Dr. Maya Morsi also offered to try "Radhaan Mantri Mudra Yojana" Government-backed in India, the "karandaz" in Pakistan in the same regard, pointing out the main goals, basic areas of focus, and the most prominent success factors.
During her presentation, the Minister of Social Solidarity reviewed the Egyptian experience, stressing that Egypt has the infrastructure and programming. Appropriate, and similar to the Grameen Bank’s working mechanism. And other pioneering experiences.
The Minister confirmed that Egypt is already implementing the most prominent components of Grameen Bank’s success, and that it has also made great strides in the field of digital transformation, financial inclusion, and making… Financial services at all levels; Through the digitization of financial services provided through non-banking financial institutions, in addition to developing existing banking systems.
Dr. Maya Morsi noted that the government and the Central Bank of Egypt have already By developing policies and frameworks that enhance financial inclusion, in addition to many concerned institutions providing financial training and education programs and providing the necessary tools to access services and participate in the digital economy.
She pointed out In the same context, the Minister referred to the services provided by a number of Egyptian banks and bodies, in addition to a number of mechanisms and programs, such as the “Tahweesha” program, stressing the importance of unifying efforts among all concerned parties in this regard in order to be comprehensive and integrated in order to achieve the targeted impact of the interventions. The government, reviewing the vision and the proposed framework for achieving this.
While the Minister of Agriculture and Land Reclamation also referred, during the meeting, to the ministry’s efforts in the field of small and microfinance through the Agricultural Bank. Which owns 1,500 branches.
The Minister also explained the importance of these efforts in providing easy financing to citizens and helping them increase their savings and secure a suitable pension for them.
This, Yasmine Abbas discussed the efforts of Nasser Social Bank in the field of lending and the successful experience it represents that can be supported. In order to be similar to successful experiences in other countries.
While Engineer Ibrahim Sarhan pointed to the efforts of e-Finance in coordination with the relevant authorities to provide a number of financing services, expressing his agreement with a number One of the proposals that were put forward during the meeting was regarding the possibility of developing a successful system for small and microfinance.
At the conclusion of the meeting, the Prime Minister reiterated the importance of coordination between the concerned parties in light of the presence of a structure Egypt has a successful infrastructure to implement an integrated system within the framework of a new initiative adopted by the state. He directed the Minister of Social Solidarity to coordinate between these parties. To develop a proposal for an integrated system that represents a new initiative for the state.
