Federation of Egyptian Banks donates EGP 500m for COVID-19 vaccine

The Federation of Egyptian Banks (FEB), headed by Mohamed El-Etreby, has contributed 500 million Egyptian pounds for Egypt’s purchase of vaccines for the novel coronavirus (COVID-19) pandemic.

The FEB provided the financing for the vaccines, which will be given to the most deserving groups, in cooperation with the Tahya Misr Fund, and with the participation of the member banks.

The largest share of this amount was contributed by the National Bank of Egypt (NBE), Banque Misr, the Commercial International Bank (CIB), QNB Alahli, Banque du Caire, and the Arab African International Bank (AAIB).

The FEB’s support continues its pivotal role in supporting the Egyptian state’s efforts to combat the coronavirus, under the auspices of the Central Bank of Egypt (CBE).

Since COVID-19’s declaration as a global pandemic, the FEB has put in mind the safety and health of the Egyptian banking sector’s workers and dealers. This comes out of its keenness to play its role in the field of social responsibility, and putting in place initiatives that aim to support the local community under all circumstances.

The FEB believes that, in light of the critical conditions the world is going through, all efforts must be united to combat it, especially because of its economic, social and health implications.

At the forefront of those efforts comes the coordination of a donation campaign for those affected by the repercussions of the coronavirus. Banks working in the Egyptian market have donated over 750 million pounds towards this cause.

Moreover, the collective action, integration, coordination, and contributions of all community institutions have a positive impact in facing crises.