Up to 5 million Egyptian families now benefit from ‘Takaful and Karama’ pensions

Up to 5 million Egyptian families now benefit from ‘Takaful and Karama’ pensions

The number of families benefiting from the ‘Takaful and Karama‘ program’s pensions has risen to five million, bringing the cost accordingly to LE21 billion.

This comes as part of social protection measures taken by the government, Minister of Planning and Economic Development, Hala al-Saeed, announced during a meeting with the World Bank’s Regional Director for Human Development, Keiko Miwa, to deepen the dialogue with the World Bank on human development.

Saeed stressed the importance of continuing cooperation and support between the World Bank and Egypt, in light of recent global economic developments.

Supporting families in need

The government launched Takaful and Karama program to provide cash support to poor families in Egypt, she explained.

Saeed said that the government announced this month an increase in the number of beneficiaries from pensions provided by the program from 4.1 million families to more than five million families, at a total cost of about LE5.5 billion annually.

Given the high priority of social protection on the government’s agenda, the Takaful and Karama program and the other programs have made a tangible difference in the lives of Egypt’s most vulnerable citizens, she stated.

She added that about seven billion dollars, equivalent to LE121 billion, was allocated to this program in the