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EFG Foundation Signs Tripartite Agreement with aiBANK Foundation and the Magdi Yacoub Heart Foundation to Support the Training and Qualification of Nurses at the Aswan Heart Centre

This agreement focuses on improving the quality of healthcare services for patients with cardiovascular diseases, specifically in Upper Egypt.
Cairo, November 29, 2023

The EFG Foundation for Social Development (EFG Foundation), a non-profit, non-governmental organization that supports sustainable, high-impact development initiatives to assist local underprivileged communities, announced today that it has signed a tripartite agreement with aiBANK Foundation for Community Development (aiBANK Foundation) and Magdi Yacoub Heart Foundation to support the training and qualification of nurses in the treatment centers affiliated with the Magdi Yacoub Heart Foundation at the Aswan Heart Centre (AHC).
The agreement, which was signed on November 27, 2023, in the presence of representatives from all three parties, aims to enhance the quality of healthcare services provided to patients suffering from cardiovascular diseases, particularly in Upper Egypt. The AHC nurse fellowship program is one of the most distinguished training programs for nurses nationally. A total of 70 nurses are annually selected from 5 different universities across Egypt and undergo comprehensive training in quality cardiac care using interdisciplinary and participatory methods. This is underscored by an impressive average retention rate of 80%, indicating that the majority of nurses participating in the fellowship program receive employment offers for full-time positions at the AHC upon successful completion of their program. Today, some of the most senior positions in the hospital are held by former fellowship alumni and even those who do not stay in the AHC go on to have highly promising careers in hospitals in other cities in Egypt.
Mona Zulficar, Chairperson of the EFG Foundation and Chairperson of EFG Holding said, “We are proud to partner with the aiBANK Foundation and the Magdi Yacoub Heart Foundation in this vital project that will contribute to improving the health and well-being of thousands of Egyptians. This initiative reflects our commitment to supporting the development of the health sector in Egypt, especially in the fields of prevention, diagnosis, and treatment of cardiovascular diseases, which are among the leading causes of death and disability in the country.”
Hanaa Helmy, CEO of the EFG Foundation and Group Chief Sustainability Officer of EFG Holding said, “This project is part of our ongoing efforts to empower and equip medical staff in Egypt with the necessary skills and knowledge to provide the best possible care to the patients. We believe investing in human capital is essential for achieving sustainable development and social impact. Throughout this project, our objective is to support the training and qualification of nurses working in the treatment centers affiliated with the Magdi Yacoub Heart Foundation in Aswan and Cairo, spanning a 12-month training period.”
Tarek Kabil, Chairperson of aiBANK Foundation and Chairperson of aiBANK, “As we come together today to sign this tripartite agreement with the EFG Foundation and the Magdi Yacoub Heart Foundation, we mark a significant milestone in our collective efforts to revolutionize the landscape of healthcare and education in Egypt. This partnership symbolizes the power of collaboration in driving positive change, and we are excited to embark on this journey of innovation, impact, and empowerment together.”

Dina El Gazzar, VP for Development and Fundraising at the Magdi Yacoub Heart Foundation, “As we join forces with both the EFG Foundation and aiBANK Foundation in this groundbreaking tripartite agreement, we reassert our unwavering dedication to advancing healthcare and education in Egypt. Through this collaboration, we will harness the transformative potential of innovation and compassion to forge a future where improved health and well-being are accessible to all. This partnership is a testament to our shared resolve to deliver enduring, life-changing impact to the communities and patients we serve.”
The extensive training program applies the most advanced global trends in the field and is conducted internally at AHC, constituting both practical and theoretical elements. The program supports newly graduated nurses transitioning from novice to professional cardiovascular nurses. Fellows in this program are trained extensively across the continuum of cardiac care through mentored experience, interdisciplinary rounds, conferences, self-learning modules, and workshops. The project is expected to have a positive impact on the quality of health care services provided to the patients. Additionally, it aims to enhance the professional development and career prospects of the nurses, aligning with the EFG Foundation’s commitment to contribute to the achievement of the United Nations Sustainable Development Goals, particularly Goal 3: Ensure healthy lives and promote well-being for all.
The EFG Foundation for Social Development works in the field of integrated development through partnerships with the Egyptian government and local civil society in the villages of Upper Egypt. The EFG Foundation cooperates with stakeholders, starting with identifying needs, until the projects are handed over to the beneficiaries and under the auspices of the concerned government agencies. The EFG Foundation has continued to leave a positive imprint on the governorates of Upper Egypt through sustainable integrated development initiatives.
About the EFG Foundation
As part of its social responsibility towards the communities in which it operates, EFG Holding established the EFG Foundation in 2006, a non-profit, non-governmental organization.

The Foundation aims to help people and institutions overcome our society’s financial, educational, and health-related challenges by supporting innovative and sustainable programs that increase opportunities for those most in need to make a positive change in our local communities. The EFG Foundation mainly focuses on integrated development programs in Egypt by helping combat widespread diseases and supporting holistic development initiatives in the housing, water, sanitation, and income generation areas.

Since its launch, the Foundation has played a significant role in the development of society by working with reputable institutions and NGOs on several projects, including but not limited to Hepatitis C Awareness and Combat, Hepatitis B Vaccination campaign for college students, Microfinance, Poverty Alleviation of Ezbet Yacoub in Beni Sweif and recently in collaboration with the Kuwaiti Initiative for the Support of the Egyptian People in Al Makhzan Village in Qena; Support Health Education programs in Assiut University; Support Children with Cerebral Palsy; and Support Education initiatives in collaboration with KidZania.

The EFG Foundation is also committed to youth empowerment through sustainability programs that leverage our financial expertise and capitalize on our human talent to create sustainable value for our stakeholders and communities. Contributions include programs in education, the environment, youth mentorship, and employment.

Learn more about us at

For further information, please contact: 

May El Gammal
Group Chief Marketing & Communications Officer of EFG Holding
[email protected]

Omar Salama
Communications Manager of EFG Holding
[email protected]

The EFG Holding Public Relations Team
[email protected]  

Note on Forward-Looking Statements 
In this press release, EFG Holding may make forward-looking statements, including, for example, information about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Holding’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations, and regulatory actions. Accordingly, the readers are cautioned not to rely on forward-looking statements, which speak only as of the date on which they are made.

About aiBANK Foundation for Community Development

In 2016, aiBANK took a significant step towards fulfilling its commitment to the community by establishing the aiBANK Foundation for Community Development, a non-profit organization registered with the Ministry of Social Solidarity No. 10355.

Since then, aiBANK Foundation has been dedicated to enhancing the health and wellbeing of individuals, with a special focus on people with special needs. Additionally, it endeavors to ensure access to quality education for all individuals, fostering inclusivity and empowerment.

aiBANK Foundation works as a beacon of hope, working towards a better future for disadvantaged individuals. Through its commitment to giving back to the community, it strives to uplift communities, protect the environment, and provide opportunities for growth and sustainable development.

For over seven years, aiBANK Foundation has been at the forefront of creating a sustainable positive impact in the community. Through strategic partnerships with reputable NGOs, the foundation has supported various vital initiatives, including but not limited to the COVID-19 vaccination initiative for the Egyptian people, eliminating patient waiting lists, supporting women through the Algharemat initiative in collaboration with the Misr ElKheir Foundation, supporting the launch of the National Charity Fund for Education, and supporting poverty alleviation in the most vulnerable areas in Alexandria, Behira, Kafr El-Sheikh, and Damietta governorates in collaboration with the Tahya Misr Fund and the Northern Military Zone.

About Magdi Yacoub Global Heart Foundation:

The Magdi Yacoub Heart Foundation (MYF) was established in 2008 by Dr. Magdi Yacoub to provide free medical services to treat cardiovascular diseases to the neediest, especially the less fortunate children. The MYF also works on training young scientific, medical, and nursing calibers at the highest international medical levels. Further, the MYF develops research in the field of basic and applied sciences as well as biomedical sciences to integrate treatment with research and talent development in an unprecedented way in the entire region. The MYF is divided into the Aswan Heart Centre (AHC) and Magdi Yacoub Global Heart Centre in Cairo, the first of its kind in the Middle East and Africa.

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