CAIRO, May 8 (Xinhua) -- President of the World Bank (WB) Group David Malpass praised the social protection program known as "Takaful and Karama" in Egypt, official news agency MENA said on Wednesday.
"Takaful and Karama has become the largest cash support program in the Arab world and the Middle East region with 9 million beneficiaries," the WB president was quoted as saying.
The program provides services for all villages in Egypt, securing social protection and creating job opportunities, according to the report.
Malpass, who visited Egypt earlier this week, said the social protection programs are among the most important projects that the WB finances.
The WB has a special focus on creating opportunities in less-developed regions such as Upper Egypt.
The Takaful and Karama cash transfer program is among Egypt's largest investments in human capital development, he said.
The name of the program, which means "Solidarity and Dignity," was launched in 2015 with the support of 400 million U.S. dollars from WB.
The program is implemented by the Egyptian Ministry of Social Solidarity and has covered to date 2.26 million households which amount to approximately 9.4 million individuals, or approximately 10 percent of Egypt's population.
