A high-level World Bank delegation has visited Luxor, southern Egypt on Tuesday to follow up the implementation of the emergency labour intensive investment projects.
A loan of US$ 200 million is financed by the World Bank to Egypt, for an Emergency Labor Intensive Investment Project (ELIIP). The loan aims to help the government of Egypt to launch Employment-Intensive Works and Services Umbrella Programme (EIWSP).
EIWSP aims to tackle the unemployment challenge faced by different groups of the population during the transition period after the 25-January revolution which is aggravated by a return of Egyptian migrants, mainly unskilled and semi-skilled labors.
The contract is being financed by the Egypt’s Social Fund for Development (SFD) through its loan agreement with the World Bank.
The Egyptian Social Fund for Development is an autonomous development and poverty-alleviation agency set up under Presidential Decree 40 of 1991. It is an agency affiliated to the Egyptian Cabinet and is governed by a board of directors headed by the country’s Prime Minister.