{"id":566854,"date":"2021-07-25T14:00:06","date_gmt":"2021-07-25T14:00:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tech-vocational-education-get-more-german-funding\/"},"modified":"2021-07-25T14:00:06","modified_gmt":"2021-07-25T14:00:06","slug":"tech-vocational-education-get-more-german-funding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tech-vocational-education-get-more-german-funding\/","title":{"rendered":"Tech, vocational education get more German funding"},"content":{"rendered":"

<\/a> The German development bank KfW will provide EUR 41 mn to the Education <\/strong>M<\/strong>inistry over the coming year <\/strong>as part of a German-Egyptian debt-for-development swap program, the International Cooperation Ministry said in a statement<\/a>. The funding will be allocated to three projects that aim to develop technical and vocational education in Egypt. The financing is the third tranche of the second stage of the debt swap program, and will be disbursed after the two sides agree on priority projects for funding.<\/p>\n

What is the German-Egyptian debt <\/strong>for development<\/strong> swap program? <\/strong>The program was launched in 2011<\/a> when the two sides agreed to cancel EUR 240 mn in Egyptian debt owed to Germany, with the country instead allocating those funds to development projects in Egypt. The first EUR 70 mn phase has been received in full, and saw the implementation of projects targeting education and nutrition, the rehabilitation of hydroelectric stations, and the improvement of drinking water and sanitation services. The second phase saw KfW disbursed a first tranche worth EUR 10 mn to the Education Ministry to improve education, while the second EUR 80 mn tranche supported projects to develop human resources and improve sanitation in Upper Egypt.<\/p>\n

Germany has pledged<\/strong> financing of EUR 1.7 bn for ongoing projects in Egypt<\/strong> covering various sectors, the statement said.<\/p>\n

IN OTHER DEBT NEWS- Al Marasem Development signed this month EGP 3.3 bn-worth of Islamic financing agreements <\/strong>to finance real estate projects in the new administrative capital, according to Hapi Journal<\/a>. Banque Misr and Banque du Caire provided over half of the funding, while AAIB, Bank of Alexandria, Housing and Development Bank, Al Baraka Bank Egypt, Suez Canal Bank, and Faisal Islamic Bank of Egypt also participated.<\/p>\n","protected":false},"excerpt":{"rendered":"

The German development bank KfW will provide EUR 41 mn to the Education Ministry over the coming year as part of a German-Egyptian debt-for-development swap program, the International Cooperation Ministry said in a statement. The funding will be allocated to three projects that aim to develop technical and vocational education in Egypt. The financing is […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7274],"tags":[88,633,481,443,1282,3499],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566854","post","type-post","status-publish","format-standard","hentry","category-debt-watch","tag-debt-watch","tag-enterprisepm","tag-germany","tag-international-cooperation-ministry","tag-kfw","tag-vocational-education","wpautop","entry"],"acf":{"mongo_id":"39b93fe3-406a-43b5-9839-c0c3f2eb8732","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[566846],"teaser":"","voice_url":""},"yoast_head":"\nTech, vocational education get more German funding - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tech-vocational-education-get-more-german-funding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tech, vocational education get more German funding\" \/>\n<meta property=\"og:description\" content=\"The German development bank KfW will provide EUR 41 mn to the Education Ministry over the coming year as part of a German-Egyptian debt-for-development swap program, the International Cooperation Ministry said in a statement. 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The funds are earmarked for 15 projects across a range of sectors, including technical education, urban development and renewable energy.A little history: Germany is a\u2026","rel":"","context":"In "SPEED ROUND: DEVELOPMENT"","block_context":{"text":"SPEED ROUND: DEVELOPMENT","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-development\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/469.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":589390,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/26\/were-getting-an-eur-54-mn-debt-swap-from-germany-to-spend-on-wind-power\/","url_meta":{"origin":566854,"position":1},"title":"We\u2019re getting an EUR 54 mn debt swap from Germany to spend on wind power","author":"enterpriseam admin","date":"26 June 2023","format":false,"excerpt":"The money will help link our two new 500-GW wind farms to the grid","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1287.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577345,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/20\/another-chunk-of-development-finance-from-germany\/","url_meta":{"origin":566854,"position":2},"title":"Another chunk of development finance from Germany","author":"enterpriseam admin","date":"20 November 2022","format":false,"excerpt":"Egypt and Germany inked nine cooperation and financing agreements worth EUR 160 mn on the sidelines of COP27 last week, the International Cooperation Ministry said in a statement Thursday.#1- International Cooperation Minister Rania Al Mashat and German counterpart Svenja Schulze signed an EUR 80 mn grant to finance three unspecified\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/298.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":657145,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/egypt-to-see-eur-77-mn-from-germany\/","url_meta":{"origin":566854,"position":3},"title":"Egypt to see EUR 77 mn from Germany","author":"enterpriseam admin","date":"16 December 2024","format":false,"excerpt":"The agreements came during the first Egyptian-German Cooperation day","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1421.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591888,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/cabinet-signs-off-on-four-agreements-between-egypt-and-germany-worth-eur-145-9-mn\/","url_meta":{"origin":566854,"position":4},"title":"Cabinet signs off on four agreements between Egypt and Germany worth EUR 145.9 mn","author":"enterpriseam admin","date":"19 December 2019","format":false,"excerpt":"CABINET WATCH- The Madbouly Cabinet signed off yesterday on four agreements with Germany that Egypt had signed last month worth a combined EUR 145.9 mn, according to an official statement. 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