Latest news with #ManalAwad
Zawya
27-05-2025
- Business
- Zawya
Over 6,000 projects completed in Upper Egypt with $642mln investment: minister
Egypt - Manal Awad, Egypt's Minister of Local Development, met with a World Bank delegation to assess progress in the Upper Egypt Local Development Programme and explore ways to strengthen the region's business environment and private sector engagement. The delegation included Elin Olafsen, Senior Private Sector Specialist, and Zeeshan Karim, Senior Urban Specialist, along with other World Bank representatives. Also in attendance were Hisham El-Helbawy, the Minister's Assistant for National Projects and Director of the Upper Egypt Programme, and members of the programme's coordination office. Awad highlighted the longstanding partnership with the World Bank since the programme's launch in 2018, expressing gratitude for the Bank's continued support, which has led to substantial achievements across key governorates. She described the initiative as a flagship model of development cooperation between Egypt and the World Bank. To date, the programme has implemented more than 6,000 projects with total investments exceeding EGP 32bn, directly improving infrastructure and public services for approximately 8.2 million citizens in Sohag, Qena, Minya, and Assiut. Key focus areas include roads, sanitation, and electricity, with 40% of investments directed toward economic development and institutional capacity-building at the local and technological levels. Awad noted that the programme provides a scalable model for development across other governorates. The initiative has also advanced Egypt's decentralisation agenda and significantly increased private sector participation, benefiting over 72,000 companies. Surveys show that around 85% of business owners reported satisfaction with the programme's support—an encouraging sign for the government's wider 2024–2027 national reform plan. El-Helbawy provided updates on the World Bank delegation's recent field activities, including site visits in the four governorates, consultations with governors, and meetings with ministry officials. Discussions focused on enhancing infrastructure in industrial zones and supporting economic clusters in Qena and Sohag. He also pointed to tangible improvements in industrial zone management, service delivery, private sector engagement, and local revenue generation. Elin Olafsen praised the programme's role in boosting regional competitiveness, highlighting her visits to the medicinal and aromatic plants cluster in Qena and the industrial zone in Qeft. She commended the strong coordination between the Ministry of Local Development and the Industrial Development Authority in fostering growth in Upper Egypt's industrial sector. Olafsen reaffirmed the World Bank's commitment to supporting Egypt's efforts to enhance the business climate, digitise local services, and replicate successful models—particularly the economic cluster approach—in other governorates. The Bank's representatives expressed strong support for the cluster-based strategy, noting that 12 economic clusters have already been implemented, with most nearing completion. Full rollout is anticipated by October 2025. Zeeshan Karim described the Upper Egypt programme as one of the World Bank's most impactful initiatives in Egypt. She highlighted its achievements in local governance, job creation, and economic development, and reiterated the Bank's dedication to supporting Egypt's broader goals of decentralisation and sustainable urban and economic growth. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Zawya
08-05-2025
- Business
- Zawya
Egypt's FRA, Local Development Ministry, and SHMFF coordinate to expand non-banking services
Egypt - In a move to expand access to non-banking financial services nationwide, the Financial Regulatory Authority (FRA) held a high-level coordination meeting with the Ministry of Local Development and the Social Housing and Mortgage Finance Fund (SHMFF). The meeting brought together FRA Chairperson Mohamed Farid, Minister of Local Development Manal Awad, and SHMFF's CEO Mai Abdel Hamid. The discussions focused on establishing collaborative frameworks to deliver FRA-regulated financial and insurance services to broader segments of the population, particularly in underserved governorates. The initiative supports Egypt's national strategy for financial inclusion and sustainable development. Participants reviewed a broad spectrum of non-banking financial tools, including mortgage finance, leasing, factoring, consumer finance, and capital market products, as well as insurance services. The aim is to leverage these tools to enhance economic resilience at the local level and protect vulnerable citizens from financial risks. Farid stressed the FRA's commitment to strengthening partnerships with government institutions to demonstrate how non-banking solutions can support development goals. 'We are working to design innovative financing, investment, and insurance services tailored to the needs of citizens in governorates across Egypt, especially in marginalized and rural communities,' he said. He highlighted the importance of integrating efforts with the Ministry of Local Development to extend financial services to villages and districts targeted by national initiatives, particularly those under the Decent Life program and local development strategies. Minister Manal Awad underscored the value of this partnership, describing it as a pivotal step toward empowering governorates with modern financial tools. 'Our goal is to foster an enabling environment where citizens can access effective financial and insurance services, raise their living standards, and create local job opportunities,' she said. Awad also stressed the need to enhance financial literacy and public awareness of available services to ensure active citizen participation in economic life. To translate the initiative into action, the parties agreed to form joint working groups comprising representatives from the FRA, the Ministry of Local Development, and the SHMFF. These teams will develop an implementation roadmap based on local priorities, aiming to ensure the broadest possible access to non-banking financial services. The collaboration is seen as a model for institutional integration, aligning efforts among key state bodies to accelerate progress toward Egypt's sustainable development goals and improve the quality of life across all governorates.
Daily News Egypt
08-05-2025
- Business
- Daily News Egypt
FRA, Local Development Ministry, and SHMFF coordinate to expand non-banking services
In a move to expand access to non-banking financial services nationwide, the Financial Regulatory Authority (FRA) held a high-level coordination meeting with the Ministry of Local Development and the Social Housing and Mortgage Finance Fund (SHMFF). The meeting brought together FRA Chairperson Mohamed Farid, Minister of Local Development Manal Awad, and SHMFF's CEO Mai Abdel Hamid. The discussions focused on establishing collaborative frameworks to deliver FRA-regulated financial and insurance services to broader segments of the population, particularly in underserved governorates. The initiative supports Egypt's national strategy for financial inclusion and sustainable development. Participants reviewed a broad spectrum of non-banking financial tools, including mortgage finance, leasing, factoring, consumer finance, and capital market products, as well as insurance services. The aim is to leverage these tools to enhance economic resilience at the local level and protect vulnerable citizens from financial risks. Farid stressed the FRA's commitment to strengthening partnerships with government institutions to demonstrate how non-banking solutions can support development goals. 'We are working to design innovative financing, investment, and insurance services tailored to the needs of citizens in governorates across Egypt, especially in marginalized and rural communities,' he said. He highlighted the importance of integrating efforts with the Ministry of Local Development to extend financial services to villages and districts targeted by national initiatives, particularly those under the Decent Life program and local development strategies. Minister Manal Awad underscored the value of this partnership, describing it as a pivotal step toward empowering governorates with modern financial tools. 'Our goal is to foster an enabling environment where citizens can access effective financial and insurance services, raise their living standards, and create local job opportunities,' she said. Awad also stressed the need to enhance financial literacy and public awareness of available services to ensure active citizen participation in economic life. To translate the initiative into action, the parties agreed to form joint working groups comprising representatives from the FRA, the Ministry of Local Development, and the SHMFF. These teams will develop an implementation roadmap based on local priorities, aiming to ensure the broadest possible access to non-banking financial services. The collaboration is seen as a model for institutional integration, aligning efforts among key state bodies to accelerate progress toward Egypt's sustainable development goals and improve the quality of life across all governorates.
Zawya
05-05-2025
- Business
- Zawya
Market regulation, law enforcement top government agenda: Egypt's PM
Egypt - Prime Minister Mostafa Madbouly chaired a meeting of the Governors' Council on Sunday, with Minister of Local Development Manal Awad, provincial governors, and security directors in attendance—some joining via video conference. The session focused on critical governance issues including illegal construction, land encroachments, market oversight, and preparations for upcoming elections. Madbouly emphasized the urgent need for daily, multi-level coordination, particularly between governors and security directors. He underscored the state's progress in combating building violations and encroachments on agricultural land, reaffirming a zero-tolerance policy moving forward. He highlighted the effectiveness of Egypt's spatial change monitoring system in identifying early-stage violations, stressing that no new legalizations will be allowed under the recently enacted reconciliation law. He instructed governors to take swift action: either address violations immediately through local authorities or coordinate with security forces when necessary. 'How we deal with construction and land violations will directly impact each governor's performance evaluation,' Madbouly said. 'We will not return to the cycle of violation followed by reconciliation. This issue must be resolved once and for all—for the sake of the nation and its people.' With elections on the horizon, the Prime Minister called for heightened vigilance and thorough coordination among all relevant authorities. 'We must act preemptively, especially during this sensitive period,' he said. 'Every inch of agricultural land lost is a blow to our national interest.' Madbouly also stressed the importance of market regulation, naming it a top priority alongside law enforcement. He called on governors to intensify oversight of both fixed and mobile markets, temporary stalls, and supply chains to ensure product availability at fair prices. He urged close collaboration with chambers of commerce and traders to curb monopolistic behavior, hoarding, and unjustified price increases. Ahead of Eid al-Adha, Madbouly encouraged the expansion of 'one-day markets' to offer affordable essential goods to citizens, particularly in high-demand periods. He also directed attention to the ongoing wheat procurement campaign, urging tight supervision to facilitate smooth deliveries from farmers to official outlets. In closing, the Prime Minister instructed governors and security leaders to establish robust daily coordination mechanisms to ensure responsive governance and improved service delivery across all governorates. Minister Manal Awad presented updates on key files under her ministry's purview, including market price control measures, data from the spatial monitoring system, performance metrics, agricultural land protection, and the legalization of state-owned land.
Zawya
05-05-2025
- Business
- Zawya
Egypt: Mashrou'ak injects $638mln into local development projects since 2015
Egypt - The Ministry of Local Development announced on Sunday that the 'Mashrou'ak' (Your Project) initiative has financed 213,689 projects across Egypt since its launch in 2015, with total funding exceeding EGP 32.4bn. The programme has helped generate approximately 1.428 million job opportunities nationwide, establishing itself as a cornerstone of local economic support and sustainable development. This announcement comes as part of the government's broader efforts to promote economic empowerment—particularly among youth and women—and to support micro, small, and medium-sized enterprises (MSMEs) across all governorates. Mashrou'ak has continued to attract growing interest from young entrepreneurs, thanks to its streamlined procedures, technical support, and strong coordination with partner banks. The initiative has proven especially effective in reducing unemployment rates in underserved areas by turning innovative ideas into viable, income-generating ventures. Minya, Sohag, and Beni Suef have emerged as the top-performing governorates in terms of the number of projects financed. Minya alone has implemented 23,400 projects, with loans exceeding EGP 3.3bn and generating 157,400 jobs. Sohag followed closely with 23,200 projects backed by EGP 4.3bn in funding, creating 153,900 jobs. Beheira ranked third, with 19,200 projects financed through EGP 1.8bn in loans, resulting in 101,800 job opportunities. Minister of Local Development Manal Awad stated that the programme currently operates through 260 offices nationwide. These offices provide a range of services to applicants, including technical and administrative training, feasibility studies, and temporary licenses pending final approvals. Such support ensures that entrepreneurs can make full use of the services and launch sustainable businesses.
