Egypt's parliament approves 5 grants worth $41M

BY

Tue, 09 Feb 2021 - 04:07 GMT

President Sisi gives a speech at the House of Representatives downtown Cairo on Saturday, June 2, 2018, after he swore in for a second term in presidency - Press photo

President Sisi gives a speech at the House of Representatives downtown Cairo on Saturday, June 2, 2018, after he swore in for a second term in presidency - Press photo

CAIRO – 9 February 2021: House of Representatives has approved 5 non-refundable grant agreements with multilateral and bilateral development partners, worth $ 41 million, to promote the National Development Agenda 2030, through implementing development projects in a number of sectors.

 

Minister of International Cooperation Rania Al-Mashat said that the the grants that were approved are in the sectors of health, stimulating trade, investment, the environment, women's empowerment and transportation.

 

She affirmed the Ministry's keenness to support the implementation of development projects in various sectors in order to achieve development in the country, and to support efforts to achieve sustainable development goals, in coordination between multilateral and bilateral development partners, various government agencies as well as the private sector.

 

The House of Representatives had approved Presidential Decree No. 696 of 2020 approving letters between the Arab Republic of Egypt and the Government of Japan regarding the Japanese government’s provision to the Egyptian government of a grant of 1 billion Japanese yen, equivalent to $ 9.5 million, to contribute to the implementation of the economic and social development program.

 

He also approved Presidential Decree No. 697 of 2020 regarding approval of the Fourth Amendment to the Aid Grant Agreement between the Government of the Arab Republic of Egypt and the Government of the United States of America on Stimulating Trade and Investment in Egypt (TYPE), with a value of $ 26.5 million.

 

As well as Resolution No. 723 of 2020 regarding the approval of the letter of agreement between the Arab Republic of Egypt, the International Bank for Reconstruction and Development and the International Development Association regarding the provision of a grant of not more than $750,000 through the multi-donor trust fund to support pollution management and environmental health to finance the sustainable management of persistent organic pollutants.

 

It also approved the Presidential Decree No. 730 of 2020 regarding approval of the exchange of letters between the government of the Arab Republic of Egypt and the Spanish Agency for International Cooperation for Development regarding the agency's provision of a grant to the Egyptian government in the amount of €200,000, equivalent to $ 242,000, to finance the project of supporting the creation of a safe work environment that achieves equality for women in the tourism sector in the Arab Republic of Egypt.

 

Furthermore, resolution No. 698 of 2020 regarding approval of a grant agreement (technical assistance) between the Arab Republic of Egypt and the European Bank for Reconstruction and Development regarding the project of modernizing the first line of the Cairo metro - the initial modernization phase in the amount of €3 million , equivalent to $3.6 million.

 

Al-Mashat said that the ministry is working to push international partnerships to promote effective development cooperation, through economic diplomacy and its three principles, which is a joint coordination cooperation platform to bring together all multilateral and bilateral development partners at one table through periodic interactive meetings with government agencies to discuss cooperation priorities and address challenges. 

 

The Ministry of International Cooperation succeeded in agreeing with development partners on development financing of $ 9.8 billion during 2020, by $ 6.7 billion for various state sectors, 67.7 percent, and the private sector and small and medium enterprises with a value of $ 3.2 billion, or 32.3 percent.

Comments

0

Leave a Comment

Be Social