Minister of Sports and Youth Ashraf Sobhy has signed a cooperation protocol with cred Developments to support Egyptian 2024 Paris Olympics medallists, Invest-Gate reports.

Under the agreement, cred will grant medalists financial rewards coordinated with the ministry – EGP 1 mn for gold, EGP 500,000 for silver, and EGP 250,000 for bronze.

Minister Sobhy affirmed implementing presidential directives to back sporting heroes, crediting political support and player efforts for recent successes.

He stressed the importance of private sector cooperation at all levels to financially and morally support athletes through qualification initiatives, programs and camps for international events.

Sobhy said the ministry continues direct financial support to federations for international tournament preparation costs, in addition to private sector sponsorship programs.

cred CEO Ahmed Mansour expressed happiness in supporting youth through practical contributions, saying it’s part of the company’s responsibility and backing state efforts to create global champions.