Ajay Banga, President of the World Bank Group, conducted a field visit to the “Housing for All Egyptians” initiative in the city of 10th of Ramadan, which aims to provide affordable homes for low- and middle-income citizens.
He was welcomed by Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities, and Mai Abdel Hamid, CEO of the Social Housing and Mortgage Finance Support Fund.
During the visit, Banga inspected a model housing unit and met with beneficiary families, hearing how the project has improved their quality of life, especially for their children. He also met with engineers, workers, and officials from contracting companies, praising their efforts and the positive impact of their work.
In a press conference, Banga highlighted the initiative as the largest social housing programme globally funded by the World Bank. He noted Egypt’s impressive development of a local mortgage market over the past decade and emphasised the continued potential for growth, particularly through public-private collaboration in housing construction.
El-Menshawy described the initiative as a key step toward social justice, providing affordable homes with accessible financing, integrated services, and high-quality urban communities. She also highlighted the World Bank’s role in offering both financial and technical support.
For her part, Abdel Hamid said that the World Bank has been a vital partner since the project started in 2015, supporting the successful implementation of housing units for low- and middle-income citizens, reflecting Egypt’s commitment to improving living standards and promoting inclusive growth.
The visit underscores the ongoing collaboration between Egypt and the World Bank to expand affordable housing and strengthen social and economic development.
