Egypt, EU sign 4 landmark agreements
Egypt has signed on Saturday four financing agreements, all backed by grants from the European Union. Egyptian Prime Minister Moustafa Madbouly witnessed the signing ceremony, held on the sidelines of Egypt-EU Investment Conference, on Saturday.
Sustainable Development in Mediterranean Basin Countries
The first agreement is Cross-Border Co-operation Programme for Mediterranean Basin Countries (2021-2027), whereby the EU commits €263 million (89 per cent of the total programme funding) to support sustainable development across 15 countries. The sectors targeted under the agreement are sustainable tourism, cultural heritage, creative industries, digital transformation, agriculture, education, energy, and green building.
Unlocking Egyptian Youth’s Potentials
As for the second agreement, it lies under the EU Support Programme for Youth Employment and Skills in Egypt. It entails a €25 million initiative aimed at equipping young Egyptians with essential vocational and technical skills. The programme focuses on creating fair-paying jobs, entrepreneurship, and empowering the youth for a brighter economic future.
Supporting Welfare of Egyptian Children
The third agreement is related to the EU Support for Supporting Future Generations. With an €8 million grant, this agreement prioritises child protection systems in Egypt. Activities will combat child labour, enhance child protection frameworks, and ensure children’s rights to education, healthcare, nutrition, and housing.
Boosting Vaccine Production
The last agreement goes for the Strengthening Vaccine and Medicine Manufacturing in Africa. It is a groundbreaking project backed by a €3 million grant. Its mission: bolster local vaccine production and create an enabling environment for medical and health technology development.
These agreements mark a significant step forward in Egypt’s collaboration with the European Union, addressing critical areas such as economic growth, skills development, and public health. Egyptian Minister of International Cooperation Rania al-Mashat and Oliver Varhelyi, European Commissioner for Neighborhood Policy and Enlargement, signed the documents, cementing a promising comprehensive partnership.
