The Ministry of Planning and Economic Development reviews efforts to implement financial inclusion in the villages of "Decent life"

The Ministry of Planning and Economic Development issued a report on the efforts exerted to implement the financial inclusion strategy in the villages of the Egyptian Rural Development Project “Decent Life”, as part of the state’s efforts to improve the quality of life for citizens, promote digital transformation, integrate the informal economy.

Dr. Hala El-Said, Minister of Planning and Economic Development, praised the continuous cooperation and coordination with the Central Bank of Egypt and partner banks, to provide a variety of financial and banking services and products for the people of "Decent Life" villages.


El-Said stressed the state's interest in the initiative's economic development and employment pillar, by providing financing for medium, small and micro enterprises, enhancing youth capabilities in the field of entrepreneurship, and providing craft and industrial complexes.


For his part, Dr. Jamil Helmy, Assistant Minister for Follow-up Affairs of the Sustainable Development Plan, stressed the importance of applying financial inclusion in the villages for "Decent Life".


Helmy indicated that field visits and a survey of the characteristics of the local community conducted by the Central Agency for Public Mobilization and Statistics (CAPMS) are relied upon to determine the needs of the villagers, which may differ from one village to another.
Helmy, General Supervisor of the "Decent Life" initiative at the Ministry of Planning, added that the field visits, in which the Ministry of Planning, the Central Bank, and some banks participate, include consultative sessions and introductory seminars for villagers, on all available financial services and products.

Helmy explained that financial inclusion services were provided in about 258 villages in 11 governorates (Assiut, Qena, Sohag, Qalyubia, Minya, Gharbia, Beheira, Giza, Menoufia, Sharkia, Dakahlia), during the period (July - December 2021), which included Establishing and developing 27 bank branches, installing 95 automated teller machines (ATMs), 79 electronic payment machines (POS), and 1,478 QR Code readers.

He added that 9,230 prepaid cards, 263 credit cards, and 26 insurance policies were issued, as well as the opening of 1,538 electronic wallets and 6,122 bank accounts, 2,826 citizens benefiting from Internet banking services, and the organization of 82 seminars and introductory workshops to spread financial awareness, benefiting 49,000 citizens.


 Helmy pointed out that it is aimed to provide financial inclusion services in 40 centers in 18 governorates, as part of the first phase of the "Decent Life" initiative, by next June.