NBE bank earmarks 300m Egyptian pounds for scientific research, scholarships

Egypt’s biggest lender, the state-owned National Bank of Egypt has signed Thursday a cooperation protocol to put scientific research on firmer footing and finance study abroad scholarships.

The bank has allocated 300 million Egyptian pounds ($16.7 million) over three years, at 100 million pounds each year.

Hesham Okasha, Chairman of NBE, and Egyptian Higher Education Minister Khaled Abdel Ghaffar have signed the protocol in the presence of Prime Minister Sherif and central bank deputy governor Gamal Negm.

The bank has also signed a memorandum of understanding to provide 200 million pounds over two years, at 100 million pounds each year, in form of grants, scholarships, and training programmes.

Okasha has signed the memo with Minister of Planning Hala al-Saeed.