Cabinet approves presidential decree for EU-funded child protection program

Updated 8/25/2024 6:37:00 AM

Arab Finance: The Egyptian cabinet has approved a draft presidential decree for the EU Support to the Next Generation agreement, focused on backing child protection systems in Egypt with by an €8 million grant from the European Union (EU), as per a statement.

This program aims to combat child labor in Egypt by enhancing political, legal, and institutional frameworks.

It also seeks to improve children's access to comprehensive services such as education, healthcare, nutrition, and housing, fostering a positive social environment.

Additionally, the Cabinet approved a €3 million financing agreement with the EU to support local manufacturing of vaccines, medicines, and health technologies.

The cabinet also approved a €1 billion memorandum of understanding (MoU) with the EU for macroeconomic and budget support.

The cabinet has given the green light for the Ministry of Transport to proceed with contracting with a company to finance, design, establish, manage, maintain, and redeliver a dry port and logistics zone in Burj Al Arab.

This project will cover 133 feddans and will be managed over a 30-year period.

In the renewable energy sector, the cabinet approved several initiatives, including the addition of 1,200 megawatts of solar energy capacity, along with storage batteries totaling 240 megawatt hours, through the Emirati company Masdar.

The Cabinet also endorsed Masdar's proposal to begin studies for a new solar power station project with a production capacity of up to 4 gigawatts.

Furthermore, the cabinet approved the implementation of various renewable energy projects, including solar and wind, submitted by Amea Power, a subsidiary of the Emirati AlNowais Investment Company.

These projects also include the development of storage batteries, either as part of solar energy projects or as standalone initiatives.