The National Bank of Kuwait- Egypt (NBK-Egypt), a subsidiary of the National Bank of Kuwait Group (NBK Group) has recently signed a Memorandum of Understanding (MoU) with ith the International Labor Organization (ILO) and Biomass Foundation for the establishment for 60 household biogas units in some villages in Minya Governorate.
Under the patronage and attendance of Dr Yasmine Fouad, Minister of Environment; Major General Qassem Hussein, Minya Governor; Jess Dutton, Canadian Ambassador in Cairo; and distinguished Parliament members, the National Bank of Kuwait- Egypt (NBK-Egypt) signed the Memorandum of Understanding (MoU) with the International Labor Organization (ILO) and Biomass Foundation.
According to a statement, the agreement, which was signed on November 28, 2019, is a continuation of the biogas initiative launched by NBK-Egypt last year, as part of its social responsibility towards the development of rural communities and the promotion of green jobs.
In 2018, NBK- Egypt in partnership with the Government of Egypt, the International Labor Organization (ILO), The Governorate of Minya and the Government of Canada collaborated in the construction of 100 biogas units in Minya. The project was based on the pioneering experience of ILO’s project “Decent Jobs for Egypt’s Young People”, funded by Global Affairs Canada.
In this regard, the Minister of Environment Dr Yasmine Fouad viewed the agreement as a “role model for cooperation” between different stakeholders namely: international organizations, banks, and civil society to achieve effective environmental partnerships with an economic dimension.
Clean energy and green jobs
The construction of the biogas units provides green jobs to young entrepreneurs and spread community awareness about the use of clean energy in rural areas, especially among women, given their leading role in achieving resource rationalization in the household.
The Minister of Environment also highlighted the international dimension of the agreement, which will help Egypt fulfill its international commitments to climate change, given the positive impact that biogas has on reducing emissions leading to climate change.
From his side, Yasser el Tayeb, Vice Chairman and Managing Director NBK- Egypt stated that project promotes key concepts in development, namely “circular economy” and “green jobs” through the construction of biogas units by young engineers to provide a clean source of energy and organic fertilizers from wastes. This helps improve the living standard of rural communities; thus contributing to the efforts of the Egyptian Government in offering a “Decent Life” for all Egyptians.
He also stated that serving local communities has been part of NBK Group’s core DNA. The group has an active CSR role branded under “Giving it back to the community”. In line with Group orientation, NBK-Egypt has been keen to serve the Egyptian community through focusing on the development projects that come in line with UN Sustainable Development Goals (SDG) and Egypt Vision 2030 and address the following pillars:
- upgrade of poor areas
- economic empowerment
- environmental care