Egypt Invests EGP 732.6 Billion in Social Protection for 2025/2026
In a bold move to enhance social welfare, the Egyptian government has earmarked an impressive EGP 732.6 billion for social protection in its fiscal year (FY) 2025/2026 budget. This announcement was made by none other than Rania Al-Mashat, the Minister of Planning, Economic Development, and International Cooperation, during the celebratory event marking the 10th anniversary of the “Takaful and Karama” program. The event was graced by the presence of Prime Minister Mostafa Madbouly and other esteemed ministers, highlighting the importance of this initiative.
Al-Mashat emphasized that fostering human development remains a cornerstone of Egypt’s economic and social strategy for the upcoming fiscal year. She revealed that planned investments for this initiative are projected at nearly EGP 327 billion, representing a significant 22% increase from the previous year’s budget of EGP 268 billion. This surge in funding reflects Egypt’s commitment to uplift its citizens and ensure a stable economic environment for all.
Since its inception in 2015, the Takaful and Karama program has made remarkable strides in social welfare, benefiting over 4.6 million families nationwide and reaching around 17 million individuals when considering both direct and indirect effects. The initiative has attracted approximately .4 billion (around EGP 70 billion) in development financing from the World Bank, underpinning the program’s sustainability and effectiveness.
One exciting development is the allocation of million (about EGP 1.2 billion) specifically aimed at empowering families through financing for micro-enterprises. This strategic focus not only aims to bolster the standard of living for these families but also encourages entrepreneurship, fostering a culture of self-reliance and economic activity.
Through these successive investments and programs, Egypt is setting a positive example in social development and poverty alleviation. As the nation continues to evolve, initiatives like Takaful and Karama are vital in establishing a more equitable society where every citizen can thrive.
Stay tuned to Africazine for more updates on how Egypt is transforming its economy and improving the lives of its people.
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