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Arab Finance: The House of Representatives has approved four grant agreements covering a range of development sectors, as part of Egypt’s partnerships with multilateral and bilateral development partners, as per a statement issued by the Ministry of Planning and Economic Development and International Cooperation on February 4th.
This includes a €75 million financing agreement in the form of a grant between Egypt and the European Union (EU) to support the implementation of social and economic reforms at the local level.
Parliament also approved a grant agreement provided by the Middle Income Countries Technical Assistance Fund (MIC TAF) between the Egyptian government and the African Development Bank (AfDB), with a financing amounting to 499,000 units of account.
In addition, the House approved the exchange of letters between Egypt and South Korea for a $10 million grant aimed at developing environmentally friendly green vehicle maintenance technology for vocational training centers across the country.
Another approval covered the exchange of letters between Egypt and Japan for a grant from the Japan International Cooperation Agency (JICA) to finance a dive support vessel project valued at $22 million.
