Tahya Masr (Long Live Egypt) Fund, originally initiated by President Abdel Fattah al-Sisi to support national economy, is planning to launch a leasing firm, its executive chairman said Monday.
Mohamed Ashmawy told Amwal Al Ghad that the anticipated firm would be with a capital up to 100 million Egyptian pounds (US$13 million).
The firm will help provide job opportunities for the youth.
Tahya Masr fund was created upon the initiative of President Sisi in 2014 to help funding projects to support and to revive the cash-strapped national economy.
Individuals and businessmen have contributed billions of Egyptian pounds to the fund.
The fund’s executive committee encompasses leading businessmen like Naguib Sawiris, former Grand Mufti Ali Gomaa and a representative from the Supreme Council of the Armed Forces.
