Egypt signed four financing agreements with the European Union totaling €299 million ($320.32 million) in grants, targeting areas such as employment and private sector development, the Egyptian Cabinet announced on Saturday.
The first agreement, part of the “Cross-Border Cooperation Programme for Mediterranean Basin Countries Phase III” for 2021-2027, involves €263 million in EU funding, representing 89% of the total €292 million program budget for 15 countries. This program aims to support private sector development in Egypt and other Mediterranean countries in sectors like sustainable tourism, cultural heritage, creative industries, digital transformation, agriculture, the blue and circular economy, education, training, energy, and green construction.
The second agreement, the “EU Support for Youth Employment and Skills in Egypt” program, worth €25 million, focuses on helping young people acquire skills, including technical and vocational skills, for fair-paying jobs and entrepreneurship.
The third agreement, the “EU Support for Future Generations” program, involves an €8 million grant to support national child protection systems in Egypt. This includes activities targeting child protection frameworks, combating child labor, and ensuring children’s rights to education, healthcare, nutrition, and housing.
The fourth agreement, the “Special Measures to Enhance Africa’s Capacity to Manufacture Vaccines and Medicines and Apply Health Technologies” project, involves a €3 million grant. This project aims to boost local vaccine manufacturing and support a conducive environment for medical and health technology production through research and skill development.
