(2017-05-28) NBE donates LE200 m to develop shanty town in Cairo The National Bank of Egypt agreed to donate EGP200 million to finance the construction of " Ahalina", a social housing project serving Cairo's El Salam district.
Governor of Cairo Atef Abd El-Hamid, leader of the Central Military Headquarter Aymen Abd El Hamid Amer, and chairman of NBE Hisham Okasha attended a ceremony marking the inception project which is included among a national program for developing Egypt's slums in cooperation with the Central Military Headquarter.
To serve the inhabitants of of the shanty town of Ezba El Saida, the project aims at constructing 25 buildings over 9.5 feddans making over 1064 units with 75m each as well as building 216 stores and a commercial center over 4400 meter.
5% of the housing units at the project will be allocated for the disabled who will get the first floor units.
After laying the first symbolic foundation blocks in the project, Okasha said that the project asserts the social responsibility role that cost the bank nearly EGP2 billion over the past five years, of which EGP1bn sum was given to develop shanty towns with the aim of providing their inhabitants with decent living conditions.
