Egypt establishes $5.6mn investment fund for people with special needs

Egypt’s Minister of Social Solidarity Ghada Wali said on Monday the country established an investment fund of 100 million Egyptian pounds ($5.6 million) aimed at empowering people with special needs.

The minister made the announcement during the ‘Differently Abled’ event held in Cairo in celebration of the International Day of Persons with Disabilities, which was attended by President Abdel Fattah al-Sisi.

Wali said the board of directors of Nasser Social Bank agreed on the establishment of the fund in cooperation with companies and private banks; with the banks aiming to raise 100 million pounds to be used for services for persons with disabilities.

The minister highlighted the government’s recent efforts to empower and integrate people with disabilities, noting a newly passed law and the training of 400 disabled people for jobs in tourism.

According to Wali, Egypt provides financial support worth 4.2 billion pounds to 900,000 people with disabilities as well as educational scholarships and jobs for 1,900 people in the private sector this year.

The ‘Differently Abled’ event was attended by Prime Minister Moustafa Madbouly, a number of celebrities, ministers and officials, and a large number of persons with disabilities and their families.

Earlier on Monday, Madbouly issued the executive bylaws regulating the recently passed Law of Persons with Disabilities.