The Long Live Egypt fund and Misr Al Khair Foundation have signed a cooperation protocol worth 21 million pounds to release 2,000 debt defaulters.

Under the protocol, the fund and foundation will also act to economically empower the defaulters by securing jobs and pensions for them.

The Long Live Egypt is the first socio-economic fund that works with all state institutions and the private sector to serve citizens, said Mohamed Ashmawi, the CEO of the fund, Tuesday.

The Misr Al Khair Foundation plays an important role, particularly where the debtor project is concerned, Ashmawi also said.