Egypt's Takaful and Karama Social Safety Programme to Receive USD 500 Million in Financing from the World Bank

Egypt's Takaful and Karama Social Safety Programme to Receive USD 500 Million in Financing from the World Bank

https://islamicmarkets.com/articles/egypt-s-takaful-and-karama-social-safety-programme-to-receive-usd
Copy URL

On the 23rd of December 2022, the World Bank announced that it would issue USD 500 million in financing to boost and expand Egypt's Takaful and Karama social safety net programme.

Why it Matters?

The Egyptian government created the Takaful and Karama programme as a countrywide Social Safety Network (SSN) initiative geared at protecting the disadvantaged through financial support. The funding will assist the programme in its efforts to give the most vulnerable and impoverished households chances for economic inclusion, paving the road for more enduring livelihoods independent of cash transfers. According to Marina Wes, World Bank Country Director for Egypt, Yemen, and Djibouti, the financing resonates with the bank’s FY2023/2027 Country Partnersh...