Social Security Net Support Project Financed by WB’s Loan worth USD 400 Million:
The Ministry of Social Solidarity has launched a Solidarity and Dignity Program that offers cash support to the poorest classes. Since the program needs financial resources, the World Bank (WB) approved a loan worth USD 400 Million to support the Solidarity and Dignity Program.
A loan agreement for the Social Security Net Support project No. 8496-Egypt was signed on 17/4/2015 between Egypt and the European Bank for Reconstruction and Development (EBRD) and its enforcement date was set on 6/9/2015.
The Project comprises two components: the first concerns conditional and unconditional cash transfer to beneficiaries under the program. The second component develops and implements targeting and operational systems of the program, besides providing support to the Ministry of Planning and Administrative Reform in order to develop a unified national record to determine people to whom support should be due.
The project implementation has started and is progressing in a satisfactorily manner as a support project to an already launched governmental program.