3 M € German grant to support the employment initiative in Egypt
Minister of International Cooperation HE Dr. Rania A. Al-Mashat- Press Photo
CAIRO – April 25, 2021: Egyptian Minister of International Cooperation Rania Al-Mashat reviewed the objectives of the agreement signed between Egypt and Germany on the development of small and medium enterprises, which has was approved by the Egyptian Parliament during its plenary session held on Sunday.
Al-Mashat explained in a statement that coordination has been established with the German side to obtain a grant of 3 million euros, within the framework of the financing of the special initiative for employment and training, to finance the project “Partnership for job creation and support for small and medium-sized enterprises in the Arab Republic of Egypt.”
She stressed that this stemmed from the desire of the Ministry of International Cooperation to support small and medium-sized enterprises and create more jobs to overcome the repercussions of the Corona crisis.
The minister said the project aims to provide grants to businesses, nonprofits and public sector partners, with the aim of removing barriers to investment and barriers to creating better spectrum. and stimulate the growth of Egyptian, African and European businesses. in Egypt.
Al-Mashat stressed that the agreement aims to create high-quality jobs by boosting investment and increasing sales.
She added that the project serves the goals of sustainable development: the eighth goal, decent work and economic growth, and the ninth goal, industry, innovation and infrastructure.
The House of Representatives approved, at its plenary session, Presidential Decree No. 109 of 2021 concerning the approval of letters exchanged between Egypt and Germany regarding a partnership project to create jobs and support small and medium-sized enterprises in Egypt, from which the Ministry of Trade and Industry would benefit.
Al-Mashat specified that within the framework of this project, it is planned to support companies in their preparation and implementation of specific cooperation agreements and tangible investments, and to provide advice to active companies, with the aim of expanding their business activities based on the needs of each company, such as the area of product development, obtaining quality certificates, financing, setting up and carrying out qualification measures.