Egypt’s Ministry of International Cooperation has inked development financing grants worth US$145.64 million with the European Union, EU, to boost several sectors.
The signing took place in Egypt on Europe Day at a ceremony hosted by Egypt‘s Ministry of International Cooperation and the E.U.
In 2022, the EU and Egypt will celebrate 45 years of bilateral relations and 50 years of regional cooperation.
The funding covers health, administrative reform, the environment, rural and community development, and governance.
The EU’s Integrated Rural Development program and the Italian Agency for Development Cooperation signed a US$25.33 million funding deal to support the Ministry of Agriculture and Land Reclamation during the signing event.
The signing of the Public Financial Management project, which will provide a US$5.25 million grant to the Ministry of Finance, was also part of the occasion.
The Sustainable Development Strategy and the Administrative Reform Plan were also announced, with a €5 million grant to support the Ministry of Communication and Information Technology and the Central Agency for Organization Administration (CAOA).
This is part of the “EU Support for Enhanced Administrative and Public Economic Governance in Egypt” program, carried out by the Organisation for Economic Cooperation and Development (OECD).
A grant agreement for US$7.39 million was also inked for the project “Decentralization and Integrated Local Development with a Special Emphasis on Upper Egypt.”
The project is part of the “EU Support to Enhanced Administrative and Public Economic Governance in Egypt,” which will be carried out in collaboration with the Ministry of Local Development by the United Nations Development Program (UNDP).
A €14 million grant to support the Ministry of Environment was also signed for the “E.U. Green – EU Support for Growth through Egyptian Environmental Networks” program, administered by the GIZ.
This comes on top of a US$3.17 million grant from the E.U. and the Agence Française de Développement (AFD) for the Micro Small and Medium Enterprises Development Agency’s Community Development Program (MSMEDA).
Furthermore, the second phase of funding for the budget was revealed, totalling US$84.43 million in grants for the Ministry of Health and Population.
The grant will aid in the recovery of the North African country’s economy, which was severely harmed by the Covid-19 outbreak.