Egypt pens 6 development grants with European partners

Updated 7/1/2024 7:50:00 AM

Arab Finance: Egypt signed six development grant agreements with the European Union (EU), the French Development Agency (AFD), and the European Investment Bank (EIB) on the sidelines of the Egypt-EU Investment Conference, as per a statement.

Minister of International Cooperation Rania Al Mashat and the Commissioner for Neighborhood and Enlargement Oliver Varhelyi signed the cross-border cooperation program for the Mediterranean Basin (2021-2027), which focuses on innovation, green transition, competitiveness, emissions reduction, and governance.

The program, valued at a total of €292 million benefiting 15 countries including Egypt, supports projects in sectors like sustainable tourism, cultural heritage, digital transformation, agriculture, and green construction.

Under the program, the EU’s grants to Egypt amounts to €263 million, representing 89% of total contributions to the 15 countries.

Moreover, a €3 million grant was signed to enhance Africa's capacity to manufacture vaccines and medicines, supporting national plans to increase local production and equitable access to medical products.

This program also aims to develop skills and strengthen the regulatory environment for pharmaceutical technologies.

In addition, a €25 million grant was inked to support youth employability and skills in Egypt (EU4YES) and adult vocational training and employment.

Additionally, an €8 million grant was signed by Al Mashat and Varhelyi to support Egypt's child protection systems.

This program aims to combat child labor, improve children's access to comprehensive services, and ensure their rights in education, healthcare, and nutrition.

Also, Al-Mashat and Egyptian Minister of Supply and Internal Trade Ali Moselhy signed an agreement with the AFD and the EU to improve grain storage in Egypt with a €56.7 million grant.

This project aims to enhance the efficiency and quality of Egypt's wheat supply chain by increasing storage capacity and reducing grain losses from traditional storage methods.

Furthermore, Al-Mashat and EIB's Vice President Gelsomina Vigliotti signed a €2 million grant for technical support in sludge management in Egypt.

This project, benefiting the Ministry of Housing and Urban Communities, aims to develop sustainable sludge management solutions for water treatment plants.