The National Bank of Egypt (NBE) and the Egyptian Clothing Bank have signed a cooperation agreement to jointly implement the "Dignity Clothing" project, which plans to recycle about 30 tonnes of pre-consumer textile waste while providing suitable, hygienic and environmentally friendly clothing to women and children from vulnerable groups in Egypt. The signing ceremony was witnessed by Minister of Social Solidarity Maya Morsy, Ghada Tawfik, Deputy Governor of the Central Bank of Egypt responsible for corporate social responsibility, Ghada Waly, Chairwoman of the Board of the Egyptian Clothing Bank, Dina Abou Taleb, Head of Marketing and Community Development at NBE, and Manal Saleh, CEO of the Egyptian Clothing Bank.

Key points

  • The National Bank of Egypt and the Egyptian Clothing Bank signed a cooperation agreement to implement the "Dignity Clothing" project, aiming to recycle about 30 tonnes of pre-consumer textile waste.
  • The project targets women and children from vulnerable groups in Egypt, providing suitable, hygienic and environmentally friendly clothing and supporting children's regular school attendance.
  • The signing ceremony was attended by the Minister of Social Solidarity, the Deputy Governor of the Central Bank of Egypt and others; the CEO of the Egyptian Clothing Bank said the cooperation will expand the project to more governorates.

Dual social and environmental goals

The project meets the basic clothing needs of vulnerable women and children while also promoting health, supporting school attendance and reducing textile waste. Through recycling, discarded textile materials are turned into resources usable by communities. NBE said it prioritizes projects that link social needs with environmental sustainability, turning available resources into practical solutions.

Comments from various parties

Minister of Social Solidarity Morsy praised NBE's role in supporting sustainable development, saying cooperation with the banking sector helps strengthen social protection programmes, expand assistance to vulnerable groups and promote the economic empowerment of Egyptian families. Waly, Chairwoman of the Board of the Egyptian Clothing Bank, thanked NBE for its long-term support and noted that innovative ideas and more efficient use of resources can help community projects achieve greater impact; she reaffirmed the organization's commitment to recycling and maximizing the use of existing materials.

Abou Taleb, Head of Marketing and Community Development at NBE, said the "Dignity Clothing" project not only meets a basic material need but also aims to support the physical and mental well-being of beneficiaries, help children attend school regularly and reduce household expenses. She added that the project also plans to recycle about 30 tonnes of pre-consumer textile waste, turning discarded materials into resources usable by communities.

Saleh, CEO of the Egyptian Clothing Bank, said cooperation with NBE is expected to help expand the project to more governorates in Egypt, benefit more recipients and turn textile waste into useful products. She described the cooperation as an important step in scaling up the project and translating circular economy principles into practical social and environmental benefits.

Industry significance

The agreement combines textile waste recycling with social assistance for vulnerable groups, reflecting a path through which Egyptian financial institutions and civil society organizations work together to implement the circular economy, and providing a case of public-private collaboration for the application of old clothing recycling in local public services.

Source: OPEN// NBE, Egyptian Clothing Bank target 30 tons of textile waste for recycling · Originally published on 2026-10-13