CAIRO – 26 December 2022: The Ministry of Social Solidarity, in collaboration with 'The Egyptian for Development and Education' foundation, paid back the debts of 451 defaulters across 18 governorates.
The ministry stipulated in a press statement Sunday that the priority is given to defaulters who used the money to acquire health services, pay tuition fees, or cover basic financial needs. Not just that, they must be handed a final court ruling, and be female breadwinners.
Minister Nevine al-Qabaj pointed out that the ministry's intervention is aimed at protecting the children of those women who would be left without care, if their mothers go to jail.
The value of the debts paid back on behalf of the 451 defaulters is LE8.5 million. It is noted that the ministry pays on behalf of low-income defaulters whose debts do not exceed LE20,000.
Minister Qabaj highlighted the findings of studies conducted by the National Center for Social and Criminal Research. Those suggest that loans in the aforementioned cases are disbursed by individuals who lend money in random ways and in very high interest rates, taking advantage of the borrowers' crises and ignorance of legal repercussions.