The World Bank group and its partners are investing more than $1.25 million in the Egypt Development Marketplace program, said a press release issued by the World Bank.
The Development Marketplace program addresses job creation, poverty alleviation and rural development in Egypt.
Thirty-five organizations are awarded grants of $800,000 to contribute to job creation in the agriculture and handicrafts sector, with a special emphasis on Upper Egypt. “The World Bank Group is committed to promoting an inclusive growth model and create an enabling environment for rural organizations to thrive and create jobs in the remote regions and villages of Egypt where poverty is acute,” said Hartwig Schafer, World Bank’s Country Director for Egypt, Yemen and Djibouti.
Schafer pointed that the World Bank will also provide technical support along with its grant in order to scale up innovative business model and generate employment.