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    Social Solidarity, ICT Ministers Witness Signing of Cooperation Protocol between NTI, NSB

    Cairo, 24 April 2020

    The Minister of Social Solidarity and the Chairperson of Nasser Social Bank (NSB) Nevine El-Kabbag and the Minister of Communications and Information Technology Amr Talaat have witnessed the signing of a cooperation protocol between the National Telecommunication Institute (NTI) and NSB, through video conference.

    The protocol targets launching the new initiative “Digital Egypt Youth.” The aim is to provide soft loans to trainees at the different training programs of the Ministry of Communications and Information Technology (MCIT) to buy laptops.

    The one year protocol was signed by NTI Director Iman Ashour and NSB Vice Chairman and Managing Director Sherif Farouk.

    El-Kabbag stated that the protocol comes in NSB keenness to enhance cooperation with NTI and emphasize its role in providing its services to all segments of society. She added that NSB and NTI previously collaborated through Wazeefa Tech, a job-focused training initiative that targets raising efficiency of and training graduates. The aim is to help them find decent jobs at a minimum wage, through funding their training using an interest-free loan from NSB, with them repaying the loan from their salaries after getting hired.

    For his part, the ICT Minister underlined that the “Digital Egypt Youth” initiative comes in line with MCIT strategy that targets facilitating achieving the digital transformation in the different state sectors, in cooperation with all ministries. Talaat referred to MCIT efforts in introducing financial inclusion, through  providing various opportunities to qualify and empower youth and women and support productive families.

    The initiative will help build youth capacities and raise efficiency of and qualify graduates for the labor market, said Talaat. This is in addition to training government employees and promoting working from home, given the current circumstances that require depending on remote training and online sessions, totally, and the consequent necessity of trainees having laptops.

    The protocol stipulates that NSB shall provide the necessary fund to trainees at different MCIT training programs, so they can get laptops using the soft loans offered by the bank in installments over three years, at 5% interest.

    Applicants to the fund are required to submit a list of documents including a recommendation letter from the training institution, with their name, National ID and social insurance number and the cost of the requested laptop. This is in addition to a price quotation of the laptop, not exceeding the maximum amount of fund, approved by NTI, as well as a recent utility bill with the name of the applicant or a next of kin, and their home address, in addition to a copy of their valid National ID.

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