World Bank, IFC Finance 70% from ITIDA’s Project for Egypt’s IT Sector

 World Bank and International Finance Corporation (IFC) are planning to Finance 70% from Information Technology Industry Development Agency (ITIDA)’s project to put general frame for the description of the market and the required skills for IT sector.

The total value of project estimated at EGP7.2 million ‘US$1 million’, ITIDA will bear 30% against World bank will bear 70% from the project.

The project will focus on putting general framework and qualifying the employees to the requests and skills that must have provided, Hussein El-Geretly CEO of ITIDA said.

Speaking to Amwal Al Ghad, El-Geretly illustrated that ITIDA will not give up the firms’ support, stressing that it seeks to merge more than finance ways.

The total Budget of ITIDA reached EGP280 million during the ongoing year of 2013/2014, it will be obtained through financial allocations, El-Geretly noted.

ITIDA works as an executive IT arm of the Ministry Of Communications and Information Technology, MCIT to spearhead the process of developing the Egyptian IT industry. The ICT Ministry is the only governmental entity which deals with ITIDA via financial transactions