Egypt secures $90.5 million in grants from Switzerland under cooperation strategy – minister

Egypt has obtained grants worth CHF 86 million ($90,561 million) under its 2017-2020 cooperation strategy with Switzerland, the Egyptian Ministry of International Cooperation said in a statement.

Egyptian Minister of International Cooperation Rania Al-Mashat held virtual talks on Monday with Swiss Ambassador to Egypt Paul Garnier to discuss the new cooperation strategy between the two countries for the coming four years (2021-2024) that aims to deepen bilateral partnership.

The Egyptian-Swiss Cooperation Strategy for the period 2017-2020 is implemented through activities in three areas: democratic processes and human rights, inclusive sustainable economic growth and employment, as well as protection and migration

Al-Mashat said that the 2021-2024 strategy will have a special focus on areas of small and medium-sized enterprises (SMEs), entrepreneurship, digital transformation, education, technical training, health, agriculture, and renewable energy sectors.

Development partnership between the two countries, which registered CHF 700 million, has contributed to implementing 200 projects.

Ambassador Garnier reiterated Switzerland’s support for Egypt’s economic reform process, adding that his country would focus on consistency in the international cooperation’s strategy over the coming four years, especially in SMEs and education.

Egypt is the largest market for Switzerland’s exports in Africa, with a bilateral trade value worth $1.3 billion in 2019, according to data from the Swiss Embassy in Cairo.

In 2019, more than 60 Swiss companies were established across various sectors in the Egyptian market, according to the embassy.