Egypt’s Banque Misr socially responsible funding hit $36.5 mln in FY17

Egypt’s second-largest state lender, Banque Misr says its socially responsible financing reached 650 million Egyptian pounds ($36.5 million) during 2016-2017 financial year ended on June 30, 2017.

Speaking at the Arab Banking Forum on Green Banking in Hurghada. Banque Misr’s chairman Mohamed Mahmoud Eletreby emphasised on the importance of securing all banks’ attention to the corporate social responsibility as their national objective.

Banks in Egypt committed 320 million pounds to the initiative of the Federation of Egyptian Banks for the development of slums in Greater Cairo, Eletreby said. The money went to upgrading some informal areas in Helwan and improving the conditions of roads, sewage, education, and health there.