It was another eventful Thursday at the cabinet, with the country’s ministers approving anumber of decisions.

#1- Strategic commodities get extended protection: Rice, sugar, blended oil, fava beans, white cheese, milk, and pasta will continue to be designated as strategic commodities for another six months after the cabinet approved the decision. This would prohibit the hoarding or withholding of these commodities to ensure they remain available in the market and at a stable price.

Remember: The government deemed these goods as strategic commodities for a six-month period in January.

#2- Italian funds incoming: The ministers approved a EUR 3 mn Italian grant to provide technical support for leather, furniture, and marble industrial zones in Egypt to optimize their production capacities. The funds will be funneled into the Robbiki Leather City in Badr City, Damietta Furniture City, and Shaq El Tebaan — the largest marble and granite industrial cluster in the country.

#3- Germany to back Egypt’s MSMEs: Cabinet greenlit a draft presidential decree regarding a 2021 financing agreement with the German government that grants us funds to support MSMEs and allow them to create more jobs. The financing also aims to support vocational education in Egypt, helping us set up 25 vocational and technical training centers.

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