Egypt sees signing World Bank’s $400 mln for two social schemes soon

Big 5

Egypt is expected to sign soon a $400 million World Bank agreement to support the government’s Takaful and Karama national targeted social safety net programme, international cooperation minister said Wednesday.

Minister of International Cooperation Sahar Nasr made these remarks during a press conference took place in Cairo to announce that Egypt had secured a $2.4 million grant from the MENA Transition Fund, for which the World Bank serves as the trustee.

Egypt’s government established earlier in 2015 conditional cash transfer projects called Takaful and Karama (Solidarity and Dignity).

The Strengthening Social Safety Net Project will support the Ministry of Social Solidarity’s implementation of a system that properly identifies the poor, that its resources reach the poorest segments, and that the business process of the social safety net system becomes more efficient, more responsive, and accountable to clients.

Under the Takaful programme, poor households will receive monthly income support based on an incentive-system related to school attendance and utilizing maternal and child health care services. Karama is an unconditional income support that aims at protecting and reaching out to poor elderly people above 65 years and those with severe disabilities.

Takaful pays each family 325 pounds in addition to 60-100 pounds per child on a monthly basis, while Karama pays each elderly or disabled person 350 pounds per month.