CAIRO: Arab African International Bank (AAIB) launched the “We Owe It to Egypt Foundation, with a goal to enact a nationwide initiative to mobilize the public towards making fundamental and positive differences in the fields of public health and education.
With an ambitious vision to lead a national campaign for significant impact and sustainable development, the foundation works as an umbrella for other corporations and individuals to make a genuine difference in the country. The foundations will pool resources in the goal of creating centers for health and education in Egypt, and bringing them close to international standards.
“While I am confident that most corporations have their own Corporate Social Responsibility [CSR] agendas with viable and successful projects, we cannot deny that the overall result when it comes to health and education falls short of what we aspire to in Egypt. We hope the foundation will synchronize and streamline public and corporate efforts, resources and methodology and give a new dimension to CSR in Egypt, said Hassan Abdalla, chairman of the board of trustees and AAIB’s vice president.
While it is part of the bank’s CSR program, and the first of its kind to be established by a private bank, the scope and objectives of “We Owe It to Egypt extends far beyond the bank’s identity. “Our pledge to society is impact, Abdalla said.
The foundation will be driven by the practical experience, systematic efforts, and attention to detail in implementation which have been part of AAIB’s strategy since 2004, when it took on the renovation of the Cairo University Specialized Pediatrics Hospital (Abou El Reesh).
Among the many lessons learned were the importance of non-material contributions, managing resources, building sustainable systems and structures and, most importantly, developing a sense of ownership.
AAIB financed the Abou El Reesh renovation project from the bank’s budget, but now, the “We Owe it to Egypt Foundation aims to raise LE 40 million to continue the renovation process, the bank told Daily News Egypt.
Creating a systematic and structured approach to development, developing human capital and infrastructure, as well as providing patient support and technical support are some of the areas the foundation will focus on.
“We Owe It to Egypt is working to create a model of the Abou El Reesh Hospital that can be replicated nationwide to upgrade all children’s pediatric facilities.
“We will work with the same perseverance and efficiency with which we conduct our banking business, Abdalla said.
