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Sunday, 20 November 2022

Another chunk of development finance from Germany

Egypt and Germany inked nine cooperation and financing agreements worth EUR 160 mn on the sidelines of COP27 last week, the International Cooperation Ministry said in a statement Thursday.

#1- International Cooperation Minister Rania Al Mashat and German counterpart Svenja Schulze signed an EUR 80 mn grant to finance three unspecified projects to improve private sector competitiveness, solid waste management, and technical and vocational education and training (TVET).

#2- Al Mashat inked four financing agreements worth EUR 57 mn with German development bank KfW. They include an EUR 26 mn grant and EUR 12.5 mn in financing for the Education Ministry to establish and refurbish TVET, applied tech, and teacher training facilities; and EUR 16.5 mn in finance and an EUR 2 mn grant to renovate irrigation canals.

#3- Al Mashat and German development agency GIZ signed four technical support grant agreements worth EUR 23 mn. They unlock EUR 11 mn for the Nile Delta Water Management Programme; EUR 8 mn for the Supporting e-Government and Innovation in Public Administration (InnoPA) project; EUR 2 mn for the Capacity Building through Urban Infrastructure (CBUID) project; and another EUR 2 mn for the Participatory Infrastructure Project (PIP).

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