Planning Ministry, CBE discuss execution of financial inclusion in “Decent Life” 2nd phase

The Ministry of Planning and Economic Development held a coordination meeting with the Central Bank of Egypt (CBE) to discuss the executive steps for implementing the financial inclusion strategy in the second phase of the national project to develop the Egyptian countryside, “Decent Life.”

The meeting was attended by Dr. Jamil Helmy, Assistant Minister of Planning for Sustainable Development Plan Follow-up Affairs and General Supervisor of the Ministry’s “Decent Life” project.

Meanwhile, from CBE, Khaled Bassiouni, Director General of the Financial Inclusion Department, Rami Jalal, Deputy Director General of the Financial Inclusion Department, and Sally Abdel Qader, Director General of the Financial Education Department, attended.

During the meeting, Helmy reviewed the executive position for implementing the financial inclusion strategy in the villages of the first phase of the “Decent Life” project.

Helmy pointed out that the implementation of the financial inclusion strategy has resulted in covering all local units with automated teller machines (ATMs), installing 1,208 machines, in addition to establishing and developing 127 bank branches by the end of September 2023.

 “A variety of financial and banking services will also be provided, including electronic wallets, internet banking, prepaid cards, and quick response codes, which will contribute to improving the quality of life of citizens and increasing financial inclusion rates in the villages”. he added.

Dr. Jamil Helmy stressed the importance of financial inclusion interventions in localizing UN SDGs in all their dimensions in the Egyptian countryside, by providing medium, small, and micro-loans, with total financing amounting to EGP 26.3 billion by the end of September 2023.

Helmy highlighted the executive steps to expand the implementation of the financial inclusion strategy, noting that the coming period will witness holding intensive meetings with CBE and partner banks and carrying out field visits to monitor the state of development and determine the needs of the villages of the 2nd phase of the “Decent Life” project.

For his part, Khaled Bassiouni highlighted the objectives of the financial inclusion strategy in “Decent Life”, which includes improving the quality of life of citizens by developing the financial infrastructure in villages and spreading awareness and financial education about banking products and services.

Bassiouni stressed the continuation of cooperation with the Ministry of Planning and partner banks, and harnessing all capabilities to provide all financial and banking services in all villages targeted within the presidential initiative, stressing that the Central Bank attaches special importance to the “Decent Life” initiative.

From the Planning Ministry, the meeting witnessed the participation of Ahmed Al-Shimi, Deputy Head of the Programs and Performance Unit, and Mohammed Sharif, Ahmed Reda, and Omar Metwally, from the Decent Life Unit team.