Govt to support innovation with LE250 mn fund

Planning Minister Ashraf al-Araby has announced a fund of LE250 million to finance non-traditional and innovative community projects outside the government.
At a conference on the social responsibility of companies in Egypt and Africa, Araby said the government is adopting unconventional ways to boost development, adding that the fund will be launched in the 2015-2016 fiscal year.
He also said the private sector is encouraged to adopt similar initiatives.
Araby pointed out that the government is planning an ongoing development strategy called “Egypt 2030”, which is based on the participation of civil society organizations in development projects. These projects would not be affected by any change in government because they would belong to the people.
“Details of the strategy will be announced before the next fiscal year,” Araby said, adding that the strategy aims to place Egypt among the best 30 countries in the world that contribute to the global economy, as well as the top 10 countries in economic reform.
Edited translation from Al-Masry Al-Youm

Back to top button