Minister of Social Solidarity Ghada Waly announced in a press statement that her ministry allocated 3,000 projects from the Mastoura loan project for women with disabilities, corresponding with the declaration of President Abdel Fattah Al-Sisi for 2018 as the year of people with disabilities.
The Mastoura project was launched by President Al-Sisi last year, corresponding with his declaration of 2017 as the year of Egyptian women, with total funds of EGP 250m.
Previously, Waly explained that the Mastoura project provides microfinancing to Egyptian women and also provides them with more opportunities for economic empowerment, as well as a greater capacity to create income sources to raise their families’ standard of living, and to enable them to contribute more effectively to society.
For his part, the deputy CEO of Nasser Social Bank, Sherif Farouk, said that the loans will be granted to women with motor disabilities, as well as hearing and visual disabilities, on condition of their ability to work.
He added that the amount of the loan for Mastoura ranges from EGP 4,000-20,000 for women who are able to work, but have no fixed income, and the loan is granted as a project and not in cash.
Farouk continued that the projects vary between commercial, industrial, and service projects.
Notably, Daily News Egypt previously interviewed one of the beneficiaries of the project, Amna Ahmed, who has three children and whose husband died 10 years ago.
She said that she was loaned a buffalo, not cash, noting that it is better than cash, as she exploits the buffalo in producing milk and cheese, and is now known in her village for her superior milk and cheese.
She suggested that every woman who is able to work and does not have a fixed income should join the Mastoura project, describing it as a turning point in her life and pointing out that obtaining the loan from the project is very simple, as a woman just fills out an application for the loan, accompanied by a copy of her national ID and a statement of pension.
Waly announced earlier last month that the number of projects implemented through the Mastoura loan project increased to about 7,500 with a total value of EGP 113m, after Nasser Social Bank received EGP 100m from the Tahya Misr Fund, representing the second phase of Mastoura.
The first phase of the Mastoura loan project financed 6,483 projects worth more than EGP 97.5m.
