Egypt, EU Strengthen Ties With Four New Financing Agreements

Egypt has signed four agreements with the European Union (EU), which will be financed by grants provided by the EU The signing took place during the Egypt-EU Investment Conference, attended by Egyptian President Abdel Fattah Elisi and European Commission President Ursula von deren. International Cooperation Minister Rania el Mashat and EU Commissioner for Neighborhood and Enlargement Olivér Várhelyi signed the agreements.

The first agreement, "cross-border cooperation program for the Mediterranean Sea basin phase III for 2021-2027," will see the EU provide €263 million in funding, representing 89% of the total program budget of €292 million for 15 countries. The second agreement, "EU support to youth employment and skills in Egypt," is worth €25 million and aims to improve young people's technical, vocational, and entrepreneurial skills.

The third agreement, "EU support to the next generation," is an €8 million grant that focuses on supporting Egypt's national approach to child protection systems. It includes activities related to child protection frameworks, combating child labour, and ensuring children's rights to education, health care, nutrition, and housing.

Lastly, the fourth agreement is a €3 million grant for "special measures to enhance the African continent's capacity to manufacture vaccines and medicines and apply health technologies." This project aims to boost local vaccine manufacturing, support an enabling environment for medical and health technology production, and develop skills through research and development.