EFG Hermes Holding, the leading investment bank in the Arab world - has donated EGP50 million to the EFG Hermes Foundation for Social Development, according to the company’s release.
This donation comes in continuation to the company's ongoing social responsibility endeavours and is targeted towards the sustainable development of several impoverished villages in Upper Egypt. The implementation of this development program's action plan begins in 2015 and will benefit more than 30 thousand Egyptian citizens. Mona Zulficar; Non-Executive Chairperson of EFG Hermes and Chairperson of the EFG Hermes Foundation, commented on the subject saying, " EFG Hermes plays an integral role in social development in Egypt and this donation is part of our social responsibility towards the country, One of our main goals is to alleviate the pressures of poverty by developing social services in healthcare, education, housing, and water and sanitation, as well as developing and funding small projects that work on creating job opportunities for Egyptian youth. We work on achieving these goals by making effective contributions to the community and supporting sustainable development initiatives in these integrated fields" she added. Chief Executive Officers at EFG Hermes stressed on these same goals and ambitions, as Yasser El Mallawany elaborates, "The company strives to find solutions that can achieve the country's economic, social and environmental goals, and that aim to secure a decent quality of life for all members of the community we work in." Karim Awad added, "Social responsibility is one of EFG Hermes ' most important roles and goals. It is important to be part of the continuous developments that aim at resolving national poverty; health, educational and nutritional problems, and these are all immense challenges that cannot be resolved through donations and grants alone. They need good, well-studied, large-scale plans that, when executed, will guarantee continuous development."