In one of Egypt’s most ambitious CSR projects to date, the Foundation oversaw the reconstruction of 450 homes and the introduction of social services and income-generating projects in the village of Ezbet Yacoub.   EFG Hermes Foundation  is proud to announce the completion of Ro’ya 2008, an integrated development project providing housing, running water, sanitary facilities, electricity and services to the 7,000 residents of the village of Ezbet Yacoub in the Upper Egyptian governorate of Beni Sweif.   The landmark EGP 26 million project, inaugurated in 2008, has delivered a total of 450 new and refurbished homes, a figure almost double the 270 homes targeted initially. The completion of Ro’ya 2008 marks the successful conclusion of one of the most ambitious CSR initiatives undertaken in Egypt to date.   “We are very pleased with the final result of this dynamic project, as we have been able to go above and beyond our original plans for the village, contributing to the community’s success with improved housing and a network of services and infrastructure that will sustain the village into the future,” says EFG Hermes Foundation Executive Director Hanaa Helmy.   Ezbet Yacoub was previously one of Egypt’s most impoverished communities, with 80 percent of residents living in clay housing unsuitable for human dwelling. The village had no running water, electricity, sewage infrastructure and there were no clinics, schools or bakeries in the area.    In addition to improving housing conditions, the project aimed to provide better services to the village. A new sewerage system and a wastewater treatment plant that recycles sewage water for irrigation were introduced in the village. A new community center, fully staffed by village residents, incorporates essential services including a bakery, health clinic, dairy lab, children’s nursery, and a vocational training center.   EFG Hermes employees marked the completion of the project by planting Olive and Lemon trees in order to beautify the village and to provide extra income for the community. Income-generating initiatives, such as microfinance and animal husbandry projects and a ‘Plant a Tree’ initiative will provide the villagers with stable, sustainable sources of income and small-business finance into the future.   “We felt strongly that, beyond offering the villagers improved homes, it was necessary to provide them with the work opportunities and access to finance for microenterprises that will allow them to maintain these new homes and improve their circumstances beyond the conclusion of the project,” says Mona Zulficar, EFG Hermes Foundation Chairperson. “We feel that sustainability is a foundational principle of any development project, and we are pleased to have been able to incorporate this successfully into our work in Ezbet Yacoub,” she explains.   In 2009, the Egyptian Cabinet of Ministers’ Social Contract Center recognized Ro’ya 2008 as ‘the model development project of the year’ and called on the private sector to follow suit. The project was also a finalist for the Schwab Foundation Award for Social Entrepreneurship and the winner of the GTM/EGX Best Corporate Social Responsibility Award for 2010.   The EFG Hermes Foundation is currently embarking on replicating the success of Ro’ya 2008 in a neighbouring village in Beni Suef.