Egypt secures EU grants for 4 key agreements

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Egypt has inked four financing agreements to be funded via grants from the European Union (EU), as per a statement on June 29th.

The Cross-Border Cooperation for Mediterranean Countries Program, Phase III (2021-2027), represents the first agreement and it involves a funding commitment of €263 million from the EU, which accounts for 89% of the total program budget of €292 million for 15 countries.

This initiative aims to bolster the private sector across Egypt and other Mediterranean countries, particularly in the sectors of sustainable tourism, cultural heritage, digital transformation, agriculture, education, energy, and green construction.

The European Union Support for Youth Employment and Skills in Egypt is the second agreement, under which a total of €25 million will be directed to enhance youth skills development, focusing on technical and vocational training, job creation, and entrepreneurship.

The third agreement is the European Union Support to Protect Future Generations with a grant of €8 million to strengthen Egypt's national child protection systems.

This initiative targets combating child labor, enhancing child protection frameworks, and ensuring children's rights to education, healthcare, nutrition, and housing.

The fourth one is the Measures to Strengthen the Capacity of the African Continent to Manufacture Vaccines and Medicines and Apply Health Technologies project, supported by a €3 million grant.

This agreement aims to advance local vaccine manufacturing capabilities and facilitate the production of medical and health technologies in Egypt and across Africa through research and skills development.

This came during the Egypt-EU Investment Conference attended by President Abdel Fattah El-Sisi and European Commission President Ursula von der Leyen, among other officials and ministers.