Egypt has signed on Saturday four financing agreements, all backed by grants from the European Union. Egyptian Prime Minister Moustafa Madbouly has witnessed the signing ceremony, which took place during Egypt-EU Investment Conference, which saw high-level participation, including President Abdel Fattah al-Sisi and Ursula von der Leyen, President of the European Commission. Sustainable Development in Mediterranean Basin Countries The first agreement is Cross-Border Cooperation Programme for Mediterranean Basin Countries (2021-2027), whereby the EU commits €263 million (89 per cent of the total programme funding) to support sustainable development across 15 countries. The sectors targeted under the agreement are the sustainable tourism, cultural heritage, creative industries, digital transformation, agriculture, education, energy, and green building. Unlocking Egyptian Youth's Potentials As for the second agreement, it lies under the EU Support Programme for Youth Employment and Skills in Egypt. It entails a €25 million initiative aimed at equipping young Egyptians with essential vocational and technical skills. The programme focuses on creating fair-paying jobs, entrepreneurship, and empowering the youth for a brighter economic future. Supporting Welfare of Egyptian Children The third agreement is related to the EU Support for Supporting Future Generations. With an €8 million grant, this agreement prioritises child protection systems in Egypt. Activities will combat child labour, enhance child protection frameworks, and ensure children's rights to education, healthcare, nutrition, and housing. Boosting Vaccine Production The last not the least agreement goes for the Strengthening Vaccine and Medicine Manufacturing in Africa. It is a groundbreaking project backed by a €3 million grant. Its mission: bolster local vaccine production and create an enabling environment for medical and health technology development. These agreements mark a significant step forward in Egypt's collaboration with the European Union, addressing critical areas such as economic growth, skills development, and public health. Egyptian Minister of International Cooperation Rania al-Mashat and Oliver Varhelyi, European Commissioner for Neighborhood Policy and Enlargement, signed the documents, cementing a promising comprehensive partnership.
