As part of Banque Misr’s plan to support the state’s efforts to promote financial inclusion and eliminate child labour, the bank recently signed a cooperation protocol with the International Labour Organization (ILO) within the framework of the organization’s projects to combat child labour. Ms. Hend Fahmy , Head of Financial Inclusion and Real Estate Financing at Banque Misr, signed the cooperation protocol with Mr. Eric O’Sullivan, Director of the ILO Office in Egypt. The signing was attended by a distinguished group of leaders from Banque Misr and the ILO, as well as representatives from the Italian Embassy and the Slovenian Embassy in the Arab Republic of Egypt.
The protocol aims to promote financial inclusion through financial literacy and facilitating access to appropriate financial services and products for members of farming families and small industry workers, in order to contribute to addressing the root causes of child labour in Egypt.
In addition, training programmes will be provided to promote entrepreneurship through the establishment of income-generating projects to eliminate child labour, with a focus on rural areas.
Under this protocol, approximately 5,000 beneficiaries in the governorates of Assiut, Cairo, Gharbia and Qalyubia will be targeted. These beneficiaries have previously participated in the Women Moving Forward programme to support entrepreneurship, implemented by the International Labour Organisation, in addition to the families of children involved in labour.
Ms. Hend Fahmy, Head of Financial Inclusion and Mortgage Finance at Banque Misr, emphasised that Banque Misr’s signing of this protocol comes to support Egypt’s efforts to eliminate child labour and promote the objectives of Egypt’s Vision 2030.
She stated that this cooperation is an effective model for integration between banking institutions and international organisations towards promoting financial inclusion efforts, contributing to social protection and supporting economically marginalised groups, which will have a positive impact on children’s futures and enhance opportunities for the sustainable elimination of child labour.
She added: “At Banque Misr, we believe that development begins with investing in people, hence the importance of this cooperation, which supports the most needy groups through economic and knowledge support, opening new horizons of hope and work, thereby contributing to building a more just and inclusive society.”
Mr. Eric O’Sullivan, International Labour Organization in Egypt, said, “I am proud that the International Labour Organization now has a growing portfolio of projects aimed at combating child labour in Egypt, including a project to combat the worst forms of child labour in small industries and on the streets by supporting the implementation of the national plan in Egypt.
Through these projects, thousands of children have been supported to return to school, and families, especially women, have gained new income opportunities through training and entrepreneurship programmes.
Working conditions in primary sectors, from agriculture to small industries, have improved. These achievements have been made possible thanks to strong partnerships with national and international development partners.
Today, we are proud to launch new partnerships with Banque Misr to promote financial inclusion for vulnerable families and address the economic drivers of child labour, and with the Embassy of Slovenia to provide economic and social support to families through income-generating, environmentally friendly and gender-sensitive activities to combat the worst forms of child labour among girls and boys.
Banque Misr strives to set a positive example for all institutions to follow, reflecting positively on society as a whole, enhancing the excellence of its services, maintaining its long-term success, and actively participating in all initiatives and partnerships that benefit individuals. The bank’s values and business strategies reflect its commitment to sustainable development and prosperity for Egypt.
