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Banque Misr and Alexandria Governorate Conclude a Mutual Protocol Ending a 40-Year Dispute
Within the framework of the political leadership’s directives, calling upon the resolution of disputes amongst governmental state entities in an amicable manner and without prejudice to public interest, the Northern Military Region Command – in cooperation with the Engineering Authority of the Armed Forces – succeeded in concluding a mutually amicable protocol to resolve a conflict that had extended for some forty years between Banque Misr and Alexandria Governorate regarding a plot of land having a total area of ​​1,600 acres. This was done in a manner safeguarding the rights of all parties and ultimately serving the interests of the state. On the one hand, the said protocol strives to ensure the optimum utilization and sound management of these assets, so as to capitalize on them in undertaking development projects that contribute to creating genuine job opportunities for the country’s youth.
On the other hand, and within the context of Alexandria and Banque Misr’s keenness to fulfill their social and civil responsibilities in promoting national projects, the two parties agreed to allocate a plot of land having an area of ​​270 acres to complete the “Bashayer Al-Kheir” project in Alexandria Governorate. This is for the purpose of supporting and driving the efforts of the Egyptian Armed Forces towards resolving the issue of hazardous and unplanned areas in Alexandria Governorate.
The protocol was signed by Major General Mohamed Taher El-Sharif, Governor of Alexandria and Mr. Mohamed Mahmoud El-Etreby – Chairman of the Board of Banque Misr.