–  Egypt has secured four financing agreements with the European Union, totaling 299 million euros (USD 320.32 million), aimed at various sectors such as employment and private sector development.

– Key agreements include 263 million euros for the “Cross-Border Cooperation Program for the Mediterranean Sea Basin Phase III,” 25 million euros for the “EU Support to Youth Employment and Skills in Egypt” program, and 8 million euros for “EU Support to the Next Generation,” focusing on child protection systems.

– The fourth agreement, worth 3 million euros, aims to enhance local vaccine manufacturing and support the production of medical and health technologies, contributing to the development of skills through research and development initiatives.

Egypt has secured four European Union-backed financing agreements totaling 299 million euros (USD 320.32 million) across multiple sectors, including employment and private sector development, the cabinet announced.

These agreements were formalized during the Egypt-EU Investment Conference, which commenced today with President Abdel Fattah El Sisi and European Commission President Ursula von der Leyen in attendance. The agreements were signed by International Cooperation Minister Rania el Mashat and EU Commissioner for Neighborhood and Enlargement Olivér Várhelyi.

The first agreement, the “Cross-Border Cooperation Program for the Mediterranean Sea Basin Phase III (2021-2027),” includes EU funding of 263 million euros, covering 89% of the program’s total budget of 292 million euros across 15 countries.

The second agreement pertains to the “EU Support to Youth Employment and Skills in Egypt” program, totaling 25 million euros. This program aims to enhance youth skills, including technical and vocational training for employment, decent jobs, and entrepreneurship.

The third agreement, “EU Support to the Next Generation,” is an 8 million euro grant focused on supporting child protection systems in Egypt. It includes activities to combat child labor and ensure children’s rights to education, healthcare, nutrition, and housing.The fourth agreement, “Special Measures to Enhance the African Continent’s Capacity to Manufacture Vaccines and Medicines and Apply Health Technologies,” is a 3 million euro grant. This initiative aims to enhance local vaccine manufacturing, support the production of medical and health technologies, and develop skills through research and development.