Egypt, Germany ink €330mn deals on renewable energy, vocational training

Egypt and Germany signed five joint cooperation deals of €330 million ($366 million) to boost renewable energy and vocational education on the sidelines of Egyptian President Abdel Fattah al-Sisi’s visit to Germany this week to attend the meetings of the G20 Compact with Africa.

Investment and International Cooperation Minister Sahar Nasr said the agreements include grants and concessional finance in education, small and medium-sized business development, social housing, water and sanitation, and renewable energy.

“Such deals translate years of work and cooperation between Egypt and Germany,” Nasr said.

German Development Minister Gerd Müller pointed at Sisi’s attention to education and vocational training following a meeting, elaborating that the cooperation between both countries would include training teachers in a new training centre in Cairo next year.

They agreed to revamp vocational schools at a cost of 10 million euros ($10 million).

This week’s visit to Germany is the Egyptian president’s fifth.

Egypt is Germany’s third biggest trade partner in the Middle East, according to MENA agency.

The trade exchange between the two countries hit 3 billion euros ($3.3 billion) in the first seven months of 2019, up 15 percent on the same period last year.

Source: Ahram Online