HSBC Egypt Partners With Cairo Government To Develop Slums
HSBC Egypt is executing four stages of developing slums in Cairo in accordance with the cooperation protocol signed with Cairo City Government in February 2009.
As part of the social responsibility plans adopted by the Bank, HSBC Egypt has allocated EGP 100 million to execute projects and offer services to improve slums in cooperation with the private sector.
The first stage will be concluded by the end of June in which it targets developing Dar El Salam region. The first stage, that costs EGP 15 million, includes developing and equipping four primary schools designed for 14,000 students, building a youth center on an area of 8500 m2 that includes a building, four football grounds, multi-functional playground and scouts camp and playgrounds. This stage also includes setting up a medical center in Dar El Salam on an area of 1550 m2 accommodating 550 patients daily, paving the streets on an area of 9073 m2, executing local initiative in cooperation with civil society organizations and developing Dar El Salam’s market.
The second stage targets developing Ezbet El Nasr with a cost of EGP 15 million which is expected to be finalized by the end of 2013. This stage includes establishing a service compound that has a youth center, social services center, fire extinguishing unit and a bus stop on an area of 9000m as well as green areas, gardens and paving ways on an another area of 9000m. In addition, the Bank plans also to execute all local initiatives including providing school uniforms to all students and a medical aid convoy providing optical correction treatment for the residents of Ezbet El Nasr.
The third stage includes developing Ard El Meethaq region in El Basateen with a cost of EGP 30 million to establish an educational complex (primary-experimental-secondary) on an area of 3.7 acres accommodating 4480 students to be finalized by the end of 2013.
The fourth stage will provide services for southern Cairo with a cost of EGP 20 million through providing six canter dump trucks with 150 horsepower engines to lift and collect garbage. This stage also targets establishing a market with 90 units and maintaining asphalt concrete mixing plant.
HSBC Egypt studies substituting furniture for four schools in Mazraat EL Bat in El Basateen in Dar El Salam, establishing an educational complex and a playground in Dar El Salam and forming a medical center in Ezbet EL Walda.
