The palm endowment project will plant thousands of palm trees and sell the crop to raise funds that will be allocated to orphaned children.
The Ministry of Social Solidarity has launched their ‘Waqf Al-Nakhil’ initiative in the city of Kharga in the New Valley governorate. The project is a charitable endowment that was inaugurated on an area of 4,660 acres across three of New Valley’s cities, namely Dakhla, Kharga, and Farafra. Offering sukuk, or charitable bonds, the proceeds of palm cultivation done on these lands will go towards supporting orphans’ upbringing and paying for their marriages when and if they choose to get married.
The palm endowment project will plant thousands of palm trees and sell the crop to raise funds that will be allocated to orphaned children. Their date palm sukuk bonds will be sold at EGP 500 for the Saedi date palm tree, and EGP 1500 for the Barhi date palm tree. The project also will provide job opportunities for young people residing in the rural area.
Dr. Nevin Al-Kabbaj, the Minister of Social Solidarity, laid the foundation stone on Sunday and inaugurated seven other projects in Kharga, which included the inspection of the June 30 Park, the opening of the male and female student hostel projects, and the Dr. Hassan Helmy Center for people with special needs.