Egypt’s Housing & MCIT Inaugurate Real Estate Mortgage Fund – Phase I

Egypt’s ministers of Information and Communication Technology (ICT) as well as of Housing and Urban Communities are inaugurating today the first phase of Real Estate Mortgage Fund developing project which affiliated to the Housing Ministry.

The project has included the (MCIT) aims to establish integrated system in order to control  the mortgage fund actions to make it easier for the citizens to obtain the required loans for the fund, simultaneously it also guarantee monitoring and control the procedures related to granting loans.

Eng. Atef Helmy, (ICT) Minister, has asserted the need to cooperate with all Ministries, Authorities and Devices in the country and contribute to develop the work system in it through a strategic plan targeting to become a digital society, develop the informatics capacity, technological skills development for workers, and improve the provided services to the citizens.

The two Ministries have decided to continue the cooperation with each other in this field as well as signing a new protocol in order to implement the second phase of developing the infrastructure fund and also enhance the informatics capacity to be able to respond to all the requests of citizens.

The protocol aims to develop the technological infrastructure in general throughout the following axes : developing the additional capabilities with automated system for recording and following the loans provided by the fund, developing and raising the efficiency of the fund through the provision of an integrated automated system for recording and monitoring the assignments performance across the level of administration Fund.