Egypt, EU ink four financing agreements

Egypt’s Prime Minister Moustafa Madbouli witnessed the inking of four agreements financed by grants provided by the European Union (EU).

This came on the fringe of the Egypt-EU Investment Conference which kicked off this morning in the presence of President Abdel Fattah El Sisi and European Commission President Ursula von der Leyen, Middle East News Agency (MENA) reported on Saturday.

The agreements were signed by International Cooperation Minister Rania el Mashat and EU Commissioner for Neighborhood and Enlargement Olivér Várhelyi.

The first agreement is the "cross-border cooperation program for the Mediterranean Sea basin phase III for 2021-2027", under which the European Union will provide €263 million in funding, which represent 89% of the total program budget standing at €292 million for 15 countries.

The second agreement is concerned with the "EU support to youth employment and skills in Egypt" program at a total of €25 million. The program aims to upskilling young people, including technical and vocational skills for employment, decent jobs, and entrepreneurship.

The third agreement is on the "EU support to the next generation" at an €8 million grant aiming to support the national approach to child protection systems in Egypt by implementing activities focused on child protection frameworks, combating child labour, and providing a comprehensive approach to ensure children's rights to education, health care, nutrition, and housing.

The fourth agreement is on the "special measures to enhance the African continent's capacity to manufacture vaccines and medicines and apply health technologies" project at a €3 million grant.

It aims to enhance local vaccine manufacturing, support an enabling environment for the production of medical and health technologies, and develop skills through research and development.

WAM