{"id":644164,"date":"2024-09-22T00:00:00","date_gmt":"2024-09-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/22\/egypt-set-to-receive-usd-129-mn-from-usaid\/"},"modified":"2024-09-22T00:00:00","modified_gmt":"2024-09-22T00:00:00","slug":"egypt-set-to-receive-usd-129-mn-from-usaid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/22\/egypt-set-to-receive-usd-129-mn-from-usaid\/","title":{"rendered":"Egypt set to receive USD 129 mn from USAID"},"content":{"rendered":"

We\u2019re in line for USD 129 mn from the US:<\/strong> Egypt will receive USD 129 mn from the US government as part of its \u201ccommitment to advancing joint US-Egypt priorities,\u201d according to a readout<\/a> from the US embassy in Cairo of Wednesday\u2019s strategic dialogues between the two sides. <\/p>\n

Where will the funds go? <\/strong>The funds, to be facilitated through USAID, aims to support \u201creforms toward an economy driven by the private sector, advance public education, improve public health services, and strengthen responsive government institutions and transparency.\u201d<\/p>\n

Education at the forefront: <\/strong>While the readout doesn\u2019t break down how the funds will be distributed, it places a particular emphasis on education. The dialogue highlighted initiatives to upgrade 80 local technical education schools and equip nine STEM schools with equipment for their fabrication and science laboratories. The American side will also expand its US-funded career centers to another 19 Egyptian universities.<\/p>\n

ICYMI:<\/strong> Egypt inked USAID grants totalling USD 130 mn back in June<\/a>, which included a USD 35 mn grant for the US-Egypt Higher Education Initiative.<\/p>\n

That\u2019s not all: <\/strong>USAID, alongside the Planning and International Cooperation Ministry, will \u201ccontinue to advance joint US-Egypt priorities such as university scholarships, teacher training to improve the quality of basic education, expanding STEM education, and conducting joint research in water, clean energy, and climate change.\u201d <\/p>\n

And more to come:<\/strong> Three US universities \u2014 Il<\/a>linois Institute of Technolo<\/a>gy<\/a>, University of<\/a>Minnesota<\/a>, and Drake University<\/a> \u2014 will look into setting up shop at home through agreements inked with local partners.<\/p>\n

Remember: <\/strong>The government and private sector have been increasingly partnering up with foreign universities in recent years in a bid to improve the quality of the country\u2019s higher education sector, meet international standards, and turn the country into a hub for international education<\/a>.<\/p>\n

Aside from education<\/strong>, some of the funds will be channeled towards promotion of trade and boosting partnerships to ensure the tourism industry remains a sustainable driver of Egyptian growth. The two sides will also continue to work on heritage preservation of key sites to support local development.<\/p>\n

A focus on family development: <\/strong>USAID will also continue its efforts to improve family health outcomes and investing in joint efforts with the government to tackle violence against women and girls.<\/p>\n

\n

ALSO- EBRD mulls EUR 25 mn guarantee for QNB to boost MSME lending: <\/strong>The European Bank for Reconstruction and Development (EBRD) is looking into providing an unfunded guarantee of up to EUR 25 mn to Qatar National Bank Egypt, it said<\/a> earlier last week. The guarantee would cover up to 50% of the credit risk on new micro, small, and medium-sized enterprise loans originated by QNB Egypt. <\/p>\n

A first for the EBRD: <\/strong>This would be the EBRD\u2019s first project for portfolio risk sharing in Egypt \u2014 an initiative that aims to boost MSME financing by improving banks\u2019 risk-taking capacity.<\/p>\n","protected":false},"excerpt":{"rendered":"

Three US universities are expected to open branches in Egypt<\/p>\n","protected":false},"author":1,"featured_media":644165,"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":[101,73,72,501],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-644164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-finance","tag-development-finance","tag-education","tag-enterpriseam","tag-usaid","wpautop","entry"],"acf":{"mongo_id":"78ecbdb1-ef6e-436b-b1da-e8577e03fa65","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1606.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt set to receive USD 129 mn from USAID","related_issue":[644151],"teaser":"Three US universities are expected to open branches in Egypt","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.18a4efd4-8386-4178-8f9f-d1ac75a98411.mp3"},"yoast_head":"\nEgypt set to receive USD 129 mn from USAID - 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The weekend has finally arrived and we are still gearing up for this year\u2019s EnterpriseAM Finance Forum on Tuesday, 24 September. We look forward to seeing many of you there.THE BIG STORY TODAY Egypt is to receive USD 129 mn of new\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1578.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555112,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/02\/usaid-is-giving-us-usd-125-mn-in-fresh-development-grants\/","url_meta":{"origin":644164,"position":1},"title":"USAID is giving us USD 125 mn in fresh development grants","author":"enterpriseam admin","date":"2 November 2021","format":false,"excerpt":"Egypt is getting seven grants worth USD 125 mn from the US to support education, health and other development projects, USAID and the International Cooperation Ministry said in statements yesterday.The breakdown: Almost USD 50 mn of the money will go towards education, with USD 31 mn going to higher education\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\/2021\/11\/290.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591796,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/17\/usaid-to-provide-additional-usd-6-mn-for-north-sinai-development\/","url_meta":{"origin":644164,"position":2},"title":"USAID to provide additional USD 6 mn for North Sinai development","author":"enterpriseam admin","date":"17 December 2019","format":false,"excerpt":"USAID to provide additional USD 6 mn for North Sinai development: The United States Agency for International Development (USAID) will support the government with an additional USD 6 mn under a second phase of a development program in North Sinai, . An agreement signed yesterday between Investment Minister Sahar Nasr\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":573517,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/09\/cabinet-approves-emergency-medical-response-fund-usaid-allocations-for-education-and-agriculture\/","url_meta":{"origin":644164,"position":3},"title":"Cabinet approves emergency medical response fund, USAID allocations for education and agriculture","author":"enterpriseam admin","date":"9 August 2020","format":false,"excerpt":"CABINET WATCH- Cabinet approves emergency medical response fund, USAID funding for education and agriculture: The Madbouly Cabinet approved during its weekly meeting a draft law to establish a Cairo-based emergency medical response fund that will replace family health centers created nearly 20 years ago, according to a statement. The fund\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/8\/46.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":624053,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/23\/govt-inks-eight-usaid-grants-totalling-usd-130-mn\/","url_meta":{"origin":644164,"position":4},"title":"Gov\u2019t inks eight USAID grants totalling USD 130 mn","author":"enterpriseam admin","date":"23 June 2024","format":false,"excerpt":"USAID has channeled over USD 30 bn towards Egypt since 1978","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\/6\/1335.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":645083,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/11\/egypt-usaid-discussing-usd-104-mn-funding\/","url_meta":{"origin":644164,"position":5},"title":"Egypt, USAID discussing USD 104 mn funding","author":"enterpriseam admin","date":"11 July 2017","format":false,"excerpt":"Egypt and the US Agency for International Development (USAID) are in talks for USD 104 mn in funding, according to an Investment and International Cooperation Ministry statement. The funding would be directed towards investments, science and technology, higher education, agriculture, basic education, health, and water and sanitation. Minister Sahar Nasr\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/644164","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=644164"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/644164\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/644151"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/644165"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=644164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=644164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=644164"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=644164"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=644164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}