{"id":578358,"date":"2022-12-26T04:08:16","date_gmt":"2022-12-26T04:08:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/26\/egypt-secures-usd-500-mn-from-the-world-bank-to-support-takaful-and-karama\/"},"modified":"2022-12-26T04:08:16","modified_gmt":"2022-12-26T04:08:16","slug":"egypt-secures-usd-500-mn-from-the-world-bank-to-support-takaful-and-karama","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/26\/egypt-secures-usd-500-mn-from-the-world-bank-to-support-takaful-and-karama\/","title":{"rendered":"Egypt secures USD 500 mn from the World Bank to support Takaful and Karama"},"content":{"rendered":"

<\/a> Egypt\u2019s Takaful and Karama program gets a boost: <\/strong>The World Bank has agreed to a USD 500 mn loan in development financing to expand and strengthen the Takaful and Karama program amid soaring food and energy inflation<\/a>, according to an International Cooperation Ministry statement<\/a> and a WB statement<\/a>(pdf)<\/a>. This is the third round of financing from the multilateral lender for the social safety program, following a USD 400 mn<\/a> loan in 2015 and another USD 500 mn<\/a> loan in 2019.<\/p>\n

Where\u2019s the money going? <\/strong>The loan will help expand the program\u2019s coverage and enroll more families into economic inclusion to mitigate price shocks, the World Bank statement reads, without disclosing specific targets. The first two loans helped enroll 3.7 families into the program \u2014 amounting to 12.8 mn citizens, according to the ministry statement.<\/p>\n

Background: <\/strong>The program was launched in 2015<\/a> to provide income support to the country\u2019s most vulnerable citizens via cash transfers. The Madbouly government rolled out new emergency social protection measures worth EGP 11 bn in July<\/a> and another set of measures in October<\/a> to mitigate the impact of the economic crisis on the poorest. These measures will see an extra 1 million families<\/a> brought into the program bringing the total number of beneficiaries to 20 mn.<\/p>\n

It\u2019s also a priority for the IMF: <\/strong>The IFM newly-approved USD 3 bn facility aims to expand the coverage of the cash transfer program Takaful and Karama by an additional 5 mn families<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s Takaful and Karama program gets a boost: The World Bank has agreed to a USD 500 mn loan in development financing to expand and strengthen the Takaful and Karama program amid soaring food and energy inflation, according to an International Cooperation Ministry statement and a WB statement(pdf). This is the third round of financing […]<\/p>\n","protected":false},"author":1,"featured_media":578359,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7274],"tags":[88,104,72,182,190,2200,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-economy","tag-enterpriseam","tag-inflation","tag-social-welfare","tag-takaful-and-karama","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"29a80974-4fef-4290-bd28-dc46eb661d62","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/519.jpg","photo_position":"above","related_issue":[578346],"teaser":"","voice_url":""},"yoast_head":"\nEgypt secures USD 500 mn from the World Bank to support Takaful and Karama - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/26\/egypt-secures-usd-500-mn-from-the-world-bank-to-support-takaful-and-karama\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt secures USD 500 mn from the World Bank to support Takaful and Karama\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s Takaful and Karama program gets a boost: The World Bank has agreed to a USD 500 mn loan in development financing to expand and strengthen the Takaful and Karama program amid soaring food and energy inflation, according to an International Cooperation Ministry statement and a WB statement(pdf). 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financiers: Egypt, World Bank sign USD 500 mn facility to extend social safety net: Investment Minister Sahar Nasr and World Bank director in Egypt Marina Weis have signed an agreement to extend a program to support Egypt\u2019s social safety net for three years, the ministry\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595083,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/16\/egypt-to-obtain-first-segment-of-usd-500-mn-world-bank-loan-next-fiscal-year\/","url_meta":{"origin":578358,"position":1},"title":"Egypt to obtain first segment of USD 500 mn World Bank loan next fiscal year","author":"enterpriseam admin","date":"16 September 2019","format":false,"excerpt":"Takaful and Karama will receive first payment of USD 500 mn World Bank loan next fiscal year: The Social Solidarity Ministry will start receiving payments from the USD 500 mn World Bank loan for the Takaful and Karama social welfare programs in three tranches over three years, starting from FY2020-2021,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593866,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/13\/cabinet-signs-off-on-usd-500-mn-world-bank-facility-for-egypts-social-safety-net\/","url_meta":{"origin":578358,"position":2},"title":"Cabinet signs off on USD 500 mn World Bank facility for Egypt\u2019s social safety net","author":"enterpriseam admin","date":"13 October 2019","format":false,"excerpt":"CABINET WATCH- The Madbouly Cabinet approved on Thursday a USD 500 mn loan from the World Bank to support Egypt\u2019s social safety net for three years, according to an official statement. Egypt had signed the agreement for the facility, which will be used to expand the Takaful and Karama cash\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572363,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/22\/egypt-receives-first-installment-of-usd-500-mn-world-bank-facility\/","url_meta":{"origin":578358,"position":3},"title":"Egypt receives first installment of USD 500 mn World Bank facility","author":"enterpriseam admin","date":"22 June 2020","format":false,"excerpt":"The World Bank has disbursed the first USD 325 mn tranche of a USD 500 mnfacility to subsidize the Takaful and Karama cash subsidy programs, Social Solidarity Minister Nivine El Kabbag tells Al Mal. The remaining USD 175 mn is expected to land in Egypt within days, according to El\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":639834,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/15\/hyundai-appliances-wants-to-set-up-shop-in-egypt-plus-news-from-kima-and-takaful-and-karama\/","url_meta":{"origin":578358,"position":4},"title":"Hyundai Appliances wants to set up shop in Egypt. PLUS: News from Kima and Takaful and Karama","author":"enterpriseam admin","date":"15 August 2024","format":false,"excerpt":"The company yesterday inked an exclusive distribution agreement inked with Eleven Trade Corp","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1376.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572310,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/21\/govt-could-manage-takaful-karama-pension-via-dedicated-investment-fund\/","url_meta":{"origin":578358,"position":5},"title":"Gov't could manage takaful, karama pension via dedicated investment fund","author":"enterpriseam admin","date":"21 June 2020","format":false,"excerpt":"Gov't could manage takaful, karama pension assets via dedicated investment fund: Prime Minister Moustafa Madbouly discussed a proposal by the Social Solidarity Ministry to turn the takaful and karama pensions into a fund and invest pensioners\u2019 savings, according to a cabinet statement. The proposal also includes granting beneficiaries cash allocations\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=578358"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578358\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578346"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578359"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578358"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578358"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}