Following the Indebted Women supporting Protocol… Suez Canal Bank and El Masry Foundation Launch the Second Phase of the “Hayah Afdal” Project to Empower Women through Small Productive Projects in Minya Governorate under the Patronage of the Central Bank of Egypt’s Central CSR Department
As part of its efforts to supporting the economic empowerment of the most vulnerable groups and following the cooperation protocol funded by Suez Canal Bank last year to settle the debts of 26 indebted women, in cooperation with El Masry Foundation for Development and Education, the Bank launched the second phase of the “Hayah Afdal” project. The project targets 10 women who benefited from the first phase in Minya Governorate by financing the purchase of sewing machines, equipment, raw materials, and a specialized training program to help them establish small productive businesses that will support their financial independence and improve the livelihoods of their families. The project’s impact is expected to reach around 50 indirect beneficiaries from their family members, reflecting the Bank’s keenness to continuing its support journey from debt relief to economic empowerment.
Under the “Hayah Afdal” project, Suez Canal Bank financed a complete set of equipment and operating supplies for each beneficiary, including a sewing machine, an overlock machine, a steam iron, as well as fabrics, threads, scissors, measuring tools, and the essential raw materials needed to start the business. This ensures that the training is transformed into an actual income-generating project, maximizing the project’s social and developmental impact.
The training program lasted for 40 days in tailoring and sewing, aiming to equip the beneficiaries with the technical and practical skills needed to manage their own businesses in line with market needs. The training covered several specialized practical topics, including the use of different sewing machines and pattern making, enabling the trainees to start production immediately after completing the program.
The second phase of the project concluded with a ceremony during which the beneficiaries received the equipment and raw materials needed to launch their businesses. They were also supported in opening bank accounts, into which the Bank deposited symbolic amounts. In addition, the Bank organized a financial awareness session to introduce the beneficiaries to its banking products and services, helping enhance their financial literacy and enabling them to manage their finances more effectively. Gifts were also distributed to the trainees to provide moral support and strengthen positive engagement.
In this regard, Ms. Nour El Zeny, Head of Financial Inclusion, Corporate Communication, and CSR at Suez Canal Bank, said: “At Suez Canal Bank, we are keen to implementing development initiatives that go beyond direct support by building capabilities and creating opportunities for economic empowerment. Building on what we started in the first phase of the program in cooperation with El Masry Foundation for Development and Education, the second phase, the ‘Hayah Afdal” project, reflects the Bank’s vision of turning community initiatives into opportunities that create long-term value and sustainable impact in the lives of the beneficiaries and their families.”
She added: “This project is part of a comprehensive program that goes beyond providing equipment and training. It also includes a third phase aimed at supporting the sustainability of these businesses by helping market the beneficiaries’ products and connecting them with opportunities to showcase their products at exhibitions, in addition to implementing literacy programs that will further strengthen their ability to manage their businesses efficiently.”
For her part, Ms. Soheir Mohamed Awad, Chairperson of the Board of Trustees of El Masry Foundation for Development and Education, said: “This project represents a successful model of the development partnership with Suez Canal Bank, which aims to create long-term positive change in the lives of the beneficiaries and their families. It goes beyond providing support by focusing on training and economically empowering them to secure a sustainable source of income.”