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Banque Misr signs protocol with New Valley Governorate for developing Upper Egypt through establishing model village in Kharga

In the light of Banque Misr’s role and policy for development and corporate social responsibility, Banque Misr signed cooperation protocol with New Valley Governorate to allocate investments worth EGP35million for establishing a model village on n an area of 1000 feddans in Kharga, New Valley. Banque Misr Chairman Mohamed Eletreby signed the protocol with New Valley Governor Mohamed Zamalout.

New Valley Governorate is considered a prominent gate to the future with strategic importance for developing Upper Egypt and expanding agricultural land base. The protocol also targets at establishing 100households provided with all the needed facilities as well as allocating space for various activities, including livestock and rabbit farming.

Banque Misr's contribution at this major program is considered a part of his leading role at corporate social responsibility (CSR). Banque Misr is considered one of the most conscious role-model in terms of corporate development and achieving sustainability in society. Banque Misr is constantly keen on participating in different projects supporting the community development, these projects mainly target the development and improvement of human beings within different areas of practice such as education, providing job opportunities, especially for the youths and female breadwinners, health and Egyptian villages' development. Banque Misr also encourages public-private partnerships for achieving actualcontributions for social development.

Banque Misr is also the first state-owned bank to be accredited according to the Global Reporting Initiative (GRI) standards for sustainability. It also issues its business report in accordance with the principles of sustainability by taking into consideration governance and human rights, combating corruption, social inclusion and environmental safety standards. The bank also adheres to the UN Global Compact standards for citizenship (corporate social responsibility). It is worth noting that Banque Misr spent EGP700million for social development sector in FY 2017/2018.