{"id":657145,"date":"2024-12-16T00:00:00","date_gmt":"2024-12-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/egypt-to-see-eur-77-mn-from-germany\/"},"modified":"2024-12-16T00:00:00","modified_gmt":"2024-12-16T00:00:00","slug":"egypt-to-see-eur-77-mn-from-germany","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/egypt-to-see-eur-77-mn-from-germany\/","title":{"rendered":"Egypt to see EUR 77 mn from Germany"},"content":{"rendered":"

Egypt and Germany inked grant and debt <\/strong>swap agreements totaling some EUR 77.3 mn <\/strong>to fund development projects in a number of sectors, according to a Planning, Economic Development & International Cooperation statement<\/a>. <\/p>\n

A fruitful Egyptian-German Cooperation Day: <\/strong>The agreements came during the first Egyptian-German Cooperation day<\/a>, which was held yesterday.<\/p>\n

Germany will provide us with a EUR 48.3 mn grant for the <\/strong>Comprehensive Technical<\/a><\/strong>Education Initiative<\/a><\/strong>, some EUR 16.3 mn will go towards technical support for the second phase of the program and EUR 32 mn will be in financial support for the program\u2019s second phase. The funding will be directed towards building renovations, setting up green facilities, and equipment upgrades for three technical education centres. <\/p>\n

The two sides signed a EUR 29 mn debt swap agreement<\/strong>, under which Egypt will use EUR 29 mn owed to Germany to support health, education and nutrition services for vulnerable groups. The funds will go to ministries of social solidarity, health, and education, as well as the UNICEF and World Food Program. <\/p>\n

We\u2019ve heard quite a bit about Egypt-bound investments coming from Germany recently<\/strong>, including a EUR 1 bn direct reduced iron factory courtesy of industrial manufacturer SMS Group<\/a>, a EUR 30 mn flame-resistant material factory from advanced textile material producer Belchem<\/a>, a A EUR 5 mn first phase of a bicycle parts factory spearheaded by German bicycle manufacturer Cube<\/a>, and a factory by auto parts manufacturer Mutares Group<\/a> that came to light<\/a> during Investment Minister Hassan El Khatib\u2019s trip to the country late last month.<\/p>\n","protected":false},"excerpt":{"rendered":"

The agreements came during the first Egyptian-German Cooperation day<\/p>\n","protected":false},"author":1,"featured_media":657146,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[8950,101,7113,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-657145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-finance","tag-debt-swap","tag-development-finance","tag-egypt-germany-relations","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"282e3852-c7ae-44a0-9960-22761d1d36e1","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/1421.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt to see EUR 77 mn from Germany","related_issue":[657128],"teaser":"The agreements came during the first Egyptian-German Cooperation day","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.6b4fee51-d685-4c30-b232-b2cea39fc484.mp3"},"yoast_head":"\nEgypt to see EUR 77 mn from Germany - 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The funding will be allocated to three projects that aim to develop technical and vocational education\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","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":657145,"position":1},"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":564237,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/18\/germany-has-eur-151-mn-for-development-in-egypt\/","url_meta":{"origin":657145,"position":2},"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":[]},{"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":657145,"position":3},"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":593192,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/20\/el-sisi-urges-investment-in-africa-at-g20-compact-as-egypt-and-germany-sign-agreements-worth-eur-300-mn\/","url_meta":{"origin":657145,"position":4},"title":"El Sisi urges investment in Africa at G20 Compact, as Egypt and Germany sign agreements worth EUR 300 mn","author":"enterpriseam admin","date":"20 November 2019","format":false,"excerpt":"El Sisi urges investment in Africa at G20 Compact, as Egypt, Germany sign agreements worth EUR 300 mn: Investment Minister Sahar Nasr inked six cooperation agreements worth EUR 300 mn with German Economic Cooperation and Development Minister Gerd M\u00fcller on the sidelines of the G20 Compact with Africa in Berlin\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\/2019\/11\/1345.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":657145,"position":5},"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. 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