Egypt Daily News – Egypt and Germany signed grant and debt swap agreements between both countries, with a value equivalent to 77.3 million euros, to support many development sectors, to enhance the economic partnership between the two countries.
Implementation agreement and grant amounting to 48.3 million euros
The Ministry of Planning, Economic Development and International Cooperation explained that the agreements include financing two projects aimed at promoting sustainable development and achieving the goals of the national development strategy.
The first is the “Technical Support for the Comprehensive Technical Education Initiative with Egypt – Phase Two” project worth 16.31 million euros, which aims to enhance the efficiency, quality and importance of the technical education system in Egypt.
She added that the project extends from 2024 to 2028, and is considered an essential element of the Egyptian-German “new comprehensive technical education initiative,” which is a long-term cooperation established in 2018.
She pointed out that the “Financial Support for the Comprehensive Technical Education Initiative – Phase Two” project was signed, with a grant worth 32 million euros aimed at developing technical education and vocational training in Egypt.
The project is part of the second phase within a three-phase program, to achieve a qualitative shift in the level and quality of technical education and vocational training through, improving infrastructure: constructing new green buildings or rehabilitating existing buildings in accordance with environmental sustainability standards, and providing facilities with modern equipment, equipping up to 3 Centers of Excellence “CoCs”, which are specialized centers that will provide advanced practical and vocational education, in close cooperation with private sector companies to ensure that training programs are compatible with labor market requirements.
Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, noted that financial cooperation between Egypt and Germany in the field of technical education has reached about 121.5 million euros so far.
Debt swap agreement worth 29 million euros
She pointed out that a debt swap agreement worth 29 million euros was signed for the project “Strengthening national capacities to provide high-quality education, health and nutrition services to support social cohesion and resilience for groups affected by crises and their host communities.”
The agreement benefits the Ministries of Social Solidarity, Health and Population, and Education. and technical education, in addition to international partners such as the United Nations Children’s Fund (UNICEF) and the World Food Program (WFP).
Dr. Rania Al-Mashat stressed the close partnership with the German side, which contributed to achieving economic development and climate action, explaining that the debt swap program with Germany is a practical application of calls for restructuring the global financial system, and that since 2012 we have implemented 3 phases of the program that were reflected in development in education, health and security. Food and other priority sectors until the program became a model for other countries.
