{"id":617907,"date":"2024-03-31T00:00:00","date_gmt":"2024-03-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/egypt-italy-sign-agreements-to-back-msmes-vocational-training-and-much-more\/"},"modified":"2024-03-31T00:00:00","modified_gmt":"2024-03-31T00:00:00","slug":"egypt-italy-sign-agreements-to-back-msmes-vocational-training-and-much-more","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/egypt-italy-sign-agreements-to-back-msmes-vocational-training-and-much-more\/","title":{"rendered":"Egypt, Italy sign agreements to back MSMEs, vocational training, and much more"},"content":{"rendered":"

A raft of Egypt-Italy agreements:<\/strong> The Madbouly government and local private players have signed several agreements with their Italian counterparts, which will see Italy pour over EUR 150 mn into Egypt, according to a statement<\/a> from the International Cooperation Ministry.<\/p>\n

ICYMI-<\/strong> The EU agreed earlier this month<\/a> on a EUR 7.4 bn support package for Egypt under a new strategic and comprehensive partnership, which aims to support the country\u2019s economic stability and address migration flows into the bloc.<\/p>\n

MSME SUPPORT-<\/p>\n

#1- EUR 100 mn to back food security projects: <\/strong>The Italian Deposits and Loans Fund will back African MSME projects that focus on food security via a EUR 100 mn package under an agreement with AfreximBank. <\/p>\n

#2- EUR 45 mn to support MSMEs:<\/strong> The Italian fund will support the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) with a EUR 45 mn support package<\/p>\n

#3- Financial support for Egyptian-Italian MSMEs:<\/strong> Italy\u2019s ins.-financial group SACE<\/a> has signed an MoU with the Bank of Alexandria to provide financial support for trade between Egyptian-Italian MSMEs. SACE has also signed another MoU with Orascom Construction to support Italian companies working on infrastructure projects in Egypt.<\/p>\n

GRANTS-<\/p>\n

Some EUR 5 mn grant agreements were inked <\/strong>between the International Cooperation Ministry and Italy\u2019s Foreign Ministry.<\/p>\n

#1- A EUR 3 mn grant <\/strong>will provide technical support for leather, furniture, and marble industrial zones in Egypt to optimize their production capacities.<\/p>\n

#2- A EUR 1.8 mn grant <\/strong>will go to the National Council for Persons with Disabilities to boost its efforts integrating people with disabilities in society. <\/p>\n

ALSO INKED-<\/p>\n

Railways agreements:<\/strong> Italy\u2019s hospitality group Arsenale<\/a> will support the development of a tourist train in Egypt under an MoU inked with the Egyptian Railways Authority. The authority also inked an agreement with the Italian rail transport technologies developer MERMEC<\/a> to procure a multiple-unit train.<\/p>\n

Vocational education agreements:<\/strong> The General Confederation of Italian Industry (Confindustria<\/a>) and the Federation of Egyptian Industries will cooperate on technical and vocational education under an MoU inked between the two sides. Meanwhile, Italy\u2019s hospitality school Scuola Italiana di Ospitalit\u00e0<\/a> and Egypt\u2019s Pickalbatros Hotels and Resorts Group signed an MoU to provide hospitality training programs.<\/p>\n","protected":false},"excerpt":{"rendered":"

Italy\u2019s Deposits and Loans Fund is providing a total of EUR 145 mn to support MSMEs in Egypt<\/p>\n","protected":false},"author":1,"featured_media":617908,"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":[7576],"tags":[421,101,72,7192,443,336,131,363,287,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-617907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-finance","tag-afreximbank","tag-development-finance","tag-enterpriseam","tag-eu","tag-international-cooperation-ministry","tag-italy","tag-manufacturing","tag-orascom-construction","tag-smes","tag-transport","wpautop","entry"],"acf":{"mongo_id":"2e55bee0-bdac-4852-a546-fc7d49f1832c","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2630.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt, Italy sign agreements to back MSMEs, vocational training, and much more","related_issue":[617896],"teaser":"Italy\u2019s Deposits and Loans Fund is providing a total of EUR 145 mn to support MSMEs in Egypt","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.e3f44f38-9190-41cf-8fb3-6625ee140e42.mp3"},"yoast_head":"\nEgypt, Italy sign agreements to back MSMEs, vocational training, and much more - 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The funding comes within the framework of the EU-Egypt Partnership Priorities for\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\/5\/119.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":605199,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/24\/egyptian-german-officials-sign-eur-150-5-mn-cooperation-agreements\/","url_meta":{"origin":617907,"position":3},"title":"Egyptian, German officials sign EUR 150.5 mn cooperation agreements","author":"enterpriseam admin","date":"24 December 2018","format":false,"excerpt":"Egypt, Germany sign EUR 150.5 mn-worth of financing agreements: Investment and International Cooperation Minister Sahar Nasr and German ambassador to Egypt Georg Luy signed yesterday EUR 150.5 mn-worth of agreements to finance development projects in Egypt, according to a ministry statement. The agreements include a EUR 48 mn grant to\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":588825,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/18\/reefy-receives-ebrd-loan-to-support-youth-led-msmes\/","url_meta":{"origin":617907,"position":4},"title":"Reefy receives EBRD loan to support youth-led MSMEs","author":"enterpriseam admin","date":"18 June 2023","format":false,"excerpt":"Reefy\u2019s portfolio reached EGP 2.9 bn at the end of May","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\/2023\/6\/819.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564237,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/germany-has-eur-151-mn-for-development-in-egypt\/","url_meta":{"origin":617907,"position":5},"title":"Germany has EUR 151 mn for development in Egypt","author":"enterpriseam admin","date":"18 August 2021","format":false,"excerpt":"Egypt will receive EUR 151 mn in grant money from Germany to support development projects, the International Cooperation Ministry said in a statement this afternoon. 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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=617907"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617907\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/617896"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/617908"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=617907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=617907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=617907"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=617907"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=617907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}