National Bank of Egypt ups contribution to Zewail science city

The National Bank of Egypt (NBE) will pump an additional contribution worth 50 million Egyptian pounds ($5.6 million) to Zewail City of Science and Technology (ZCST), the brainchild of late Nobel laureate Ahmed Zewail.

The board of Egypt’s biggest public bank approved to provide additional 50 million pounds to Long Live Egypt Fund, to finance building Zewail City of Science, NBE chairman Hisham Okasha said on Thursday.

Zewail City of Science and Technology is a nonprofit, independent institution of learning, research and innovation, covering 198 feddans in Sixth of October City.  The concept of the City was proposed in 1999 and its cornerstone laid on January 1, 2000.

NBE has previously donated around 250 million pounds to the city when the cornerstone laid on 2000 as part of the bank’s role to support national projects in Egypt, Okasha added.