Banque Misr and Sawiris Foundations Sign MoU to Expand ”Bab Amal” Program in Sohag
In line with their commitment to supporting economic empowerment and enhancing citizens' quality of life, the Banque Misr Foundation for Community Development and the Sawiris Foundation have signed a Memorandum of Understanding (MoU) to expand the third phase of the "Bab Amal" (Door of Hope) program in Sohag Governorate. This expansion targets an additional 465 of the most deserving families, bringing the total number of targeted households to 2,520.
The implementation is carried out through the Egyptian Association for Human Development in Sohag. The Sawiris Foundation will oversee the technical and financial monitoring to maximize benefits for all targeted groups, while the Banque Misr Foundation will contribute to supporting the expansion and providing technical and financial supervision to enhance the quality and transparency of the program's execution.
This expansion builds upon the "Bab Amal" program launched by the Sawiris Foundation in 2018. The initiative aims to support the most vulnerable families in gradually breaking the cycle of extreme poverty through an integrated developmental model that encompasses four main pillars: livelihoods, social protection, financial inclusion, and social empowerment.
The signing ceremony was attended by key figures including Essam El-Wakil, Chairman of Banque Misr and Chairman of the Board of Trustees of the Banque Misr Foundation; Hisham Okasha, CEO of Banque Misr; Eng. Naguib Sawiris, Co-founder and Vice Chairman of the Board of Trustees of the Sawiris Foundation; Hossam El-Din Abdel Wahab, Deputy CEO of Banque Misr; and Raafat Shafiq, Assistant Minister of Social Solidarity for Social Protection, Economic Empowerment, and Human Development. Also in attendance were Dr. Ali El-Saidi, Vice Chairman of the Board of Trustees of the Banque Misr Foundation; Dr. Fatma El-Gouly, Member of the Board of Trustees; alongside Sawiris Foundation representatives and distinguished leaders from the participating parties.
Eng. Naguib Sawiris, Co-founder and Vice Chairman of the Sawiris Foundation, emphasized: "Tackling multidimensional poverty is a shared responsibility that no single institution can achieve alone. Therefore, we constantly strive to build partnerships with institutions that believe in the importance of investing in sustainable developmental solutions."
He added, "Our partnership today with the Banque Misr Foundation embodies this approach. It confirms that pooling resources and expertise around proven developmental models is the way to broaden their impact and reach more families. This is the kind of partnership we need—long-term collaborations that build on what works and contribute to achieving independence and dignity for the most vulnerable families."
Essam El-Wakil, Chairman of Banque Misr and its Foundation, stated that the MoU reflects a strong belief in strategic partnerships as a fundamental pillar for achieving sustainable development. "By unifying efforts and integrating expertise and resources, we maximize the developmental impact of initiatives directed at the most vulnerable groups, enhancing our capacity to provide comprehensive and sustainable solutions," he noted.
El-Wakil explained that the Phase III expansion in Sohag supports families through an interconnected package of multidimensional interventions. These target economic and social challenges comprehensively, encompassing livelihood support, food security, linkages to health and educational services, life skills development, and fostering self-reliance. He affirmed the Foundation's dedication to continuous monitoring and impact measurement to guarantee targeted results.
Dr. Ali El-Saidi, Vice Chairman of the Banque Misr Foundation, highlighted that "Bab Amal" is an effective model creating a sustainable impact on the lives of families in need. He noted that the expansion in Sohag reflects the program's success and its capacity to reach a broader beneficiary base, thereby amplifying its socio-economic footprint.
Laila Hosny, Executive Director of the Sawiris Foundation, added: "At the Sawiris Foundation, we believe that the quality of any developmental intervention is measured not by the volume of spending, but by the impact it leaves on people's lives. We adopt a clear methodology based on experimentation, impact measurement, continuous learning, and scaling up proven models. 'Bab Amal' exemplifies this approach... Expanding the program today is a new step towards maximizing this impact and reaching more vulnerable families through an evidence-based model."
It is worth noting that the "Bab Amal" program represents the Egyptian adaptation of the Graduation Approach to alleviate extreme poverty, a model developed by BRAC and successfully implemented in over 50 countries. Since its launch in 2018, the program's interventions have reached over 13,000 ultra-poor families in Upper Egypt. This expansion aligns with the Sawiris Foundation’s 2023–2028 strategy, which focuses on reducing multidimensional poverty and empowering changemakers.