Egypt’s Sovereign Fund launches educational investments in Cosmic Village

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The Sovereign Fund of Egypt began using the land of the Cosmic Village in October, by signing an agreement with CIRA Egypt and Cairo Educational Services (CAED) companies, to provide better educational services, and launch two new schools in the village with a total investment of LE 350 million.

This new agreement is a push forward into quality with international education standard at an reasonable cost for middle-income families in Egypt.

Hala al-Saeed, Minister of Planning and Economic Development and Chairman of the Board of Directors of the Fund, said that this partnership is the fourth for the Fund in the education sector this year, and reflects the Fund’s investment priorities and interest in investing in the education sector.

This is being achieved in line with the objectives of Egypt’s Vision 2030, which emphasizes investment in human capital: an essential element in the comprehensive development process, as it achieves four of the UN Sustainable Development Goals.

The CEO of the fund, Ayman Soliman, explained that the partnership embodies the fund’s role in creating cooperation with investors and the private sector for the purpose of growth, and integration.

Hassan al-Qalla, Chairman of the Board of Directors CIRA Egypt, stressed the quest to provide high-quality education to the middle class, enabling students a chance to advance especially in technology studies.

Ahmed El Sewedy, Chairman of the Board of Directors of el-Sewedy Capital, said: “We are proud of our partnership with CIRA and the Sovereign Fund of Egypt, and we look forward to providing the best quality education and spreading it in all of the governorates of Egypt.”

Source: Egypt Independent

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