12 April 2024 04:37 PM

House approves Egypt-Germany financial cooperation deal worth euros 80 million

Sunday، 25 February 2024 - 05:22 PM

The House of Representatives, during its general session Sunday chaired by the First Deputy of the Council Counselor Ahmed Saad Al-Din, approved a presidential decree No. 612 of 2023 regarding the approval of the financial cooperation agreement between Egypt and Germany with the aim to finance the National Solid Waste Management Program, provide financial support for the Comprehensive Technical Education Initiative, and risk management mechanisms.

The presented agreement aims to provide financial contributions from Germany to Egypt in the amount of 80 million euros to support several projects, including: targeted support for the Comprehensive Technical Education Initiative at the Ministry of Education and Technical Education to establish 25 Egyptian excellence centers, including specialty centers, and schools for applied technology, in addition to sectoral excellence centers in the field of renewable energy and technical schools.

Moreover, the agreement stipulates cooperation with the Ministry of Environment in restructuring the waste sector at the national level and implementing an integrated system for solid waste management in the four targeted governorates: Kafr El-Sheikh, Gharbia, Qena, and Assiut. The deal also secures support for risk management mechanisms at the Central Bank of Egypt, including supporting the restructuring of risk management tools and credit guarantee mechanisms that align with the developmental needs of small and medium-sized enterprises.

MENA


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