Egypt, Spain strengthen cooperation with 2 new grants worth €800,000

Updated 11/26/2024 12:35:00 PM

Arab Finance: Egypt has signed two grants worth a total of €800,000 with Spain, provided by the Spanish Agency for International Development Cooperation (AECID), as per a statement.

The first grant, valued at €500,000, is designated for a project aimed at treating and reusing wastewater in Egyptian sugar factories.

This initiative will improve water quality, reduce pollution, and support the sustainability of water resources by reusing treated wastewater.

The second grant, worth €300,000, will support the “Creating Job Opportunities for Youth for Employment and Establishing Companies - Phase II” project, which will help provide employment and entrepreneurship opportunities for Egyptian youth.

This came on the sidelines of a meeting between Egypt's Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat and Spain’s Ambassador to Egypt Alvaro Iranzo.

The meeting tackled ways to expand bilateral cooperation and foster new partnerships aimed at promoting sustainable economic development.

Al-Mashat emphasized the strong and diverse relations between Egypt and Spain, highlighting the ongoing efforts by the ministry to drive sustainable growth and integrate both local and foreign financing to support Egypt’s development vision.

She also expressed solidarity with Spain following the recent floods in southeastern Spain.

The two sides also discussed reinforcing collaborations between both the private and public sectors through the Hafiz platform, which offers available financial and non-financial services from development partners, and enhancing partnerships under the NWFE program, mainly in food security.