Yahia Aboul Fotouh, Chief Executive Officer of Housing and Development Bank, highlighted Egypt's education investments at the Fifth Annual Education Investment Summit.
Aboul Fotouh noted that government spending on education has exceeded 2.5% of GDP. He compared this figure to UNESCO's recommended range of 4% to 6%.
He linked these investments to remittances from Egyptians abroad, which are approaching $40bn. These inflows stem from skilled professionals such as engineers and doctors.
The banking sector supports education through three pillars. These include financing institutions, partnerships with private investors, and corporate social responsibility initiatives.
The summit opened on Tuesday under the theme of creating an enabling investment environment for education. It is organised by Cassy Media with support from multiple ministries and institutions.