Nasser Social Bank offers loans to Egyptian families for school fees to support their children's education
Egypt's Nasser Social Bank (NSB) will offer a loan of a maximum of EGP 50,000 to pay school fees in an attempt to ease the burden on Egyptians families, Deputy Chairman of NSB Sherif Farouk said on Wednesday.
The loan is offered in support to needy families and low-income brackets, elaborated Farouk.
He added that it is expected that the loan will be repaid within 10 months.
The program targets government employees and pensioners, as well as private sector employees and the self-employed.
It is aimed at encouraging an increase in enrolment rates, and to help families support their children's education in private schools.
Egypt currently has 75,000 schools; 49,000 public schools, 7,000 private schools, 750 experimental schools and 250 international schools.
