AlexBank, a member of Italian bank Intesa Sanpaolo Group, has signed Monday a joint cooperation agreement with the local charity organisation, the Egyptian Zakat Foundation.
The agreement aims to support Egyptian Zakat Foundation’s plan for the rehabilitation of 1,000 poor families living in five villages in Idfu in Aswan.
Both AlexBank and the Egyptian Zakat will provide the necessary needs for those families as well as the five villages involving the development of basic utilities, renovation, roofing, drinking water treatment, and restoration of the electrical networks.
The agreement also involves the provision of 250 small projects to create a source income for those families.
Upper Egypt’s governorates are the poorest in the country, according to state statistics agency. In April 2015, the Central Agency for Public Mobilization and Statistics (CAPMAS) indicated that approximately 9.2 million children aged between 0-17 years old are living in poverty. Of this figure, 53 percent of these children are living in Upper Egypt.
The five villages, which will receive rehabilitation and support, are Al-Aqabeyya, Al-Hamam, Al-Housh, Al-Raqiqein, El-Karabala west. Those villages were listed among the most needy areas, according to the CAPMAS.