Egypt and Germany have entered into 12 development financing agreements, worth €197 million, during the first half (H1) of 2021, states Minister for International Cooperation Dr. Rania Al Mashat.

The development financing was directed towards the fields of energy and vocational training, she added, and to further encourage private sector participation and empower women.

Among the agreements were 2 deals with the German government for grants worth €57.5 million. The grant would fund ventures in the fields of energy, renewable energy, technical education, vocational training, administrative reform and sanitation, the minister said.

Al Mashat highlighted that these financial cooperation agreements are meant to support Egypt’s sustainable development goals, including good education, gender equality, suitable jobs, industry and infrastructure, peace and justice.

She added that 10 of the agreements were signed with the German Agency for International Cooperation (GIZ) and split into 4 separate grants.

These grants were €4 million to be offered to the Sports Ministry, €14 million to be offered to the Trade and Industry Ministry, and €8 million to build institutional potentials.

Three other grants worth €14.5 million, €14.9 million and €16 million will be offered to the Education Ministry.

The Financial Regulatory Authority (FRA) should also receive a GIZ grant worth €10 million, while the Housing Ministry is set to get €3.5 million.