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Sunday, 24 January 2021

Egypt, Germany sign agreements worth 330 mln euros on renewable energy, vocational training

The agreements include grants and concessional financing

Ahram Online , Tuesday 19 Nov 2019
German Chancellor Angela Merkel welcomes Egypt's President Abdel Fattah al-Sisi upon his arrival for the G20 Compact with Africa (CwA) conference on November 19, 2019 in Berlin AFP
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Egypt and Germany have signed five joint cooperation agreements worth 330 million euros (approx. $366 million) to boost renewable energy and vocational education on the sidelines of Egyptian President Abdel-Fattah El-Sisi’s visit to Germany this week to attend the meetings of the G20 Compact with Africa. 

Investment and International Cooperation Minister Sahar Nasr said the agreements include grants and concessional finance in education, small and medium-sized business development, social housing, water and sanitation, and renewable energy.

“Such deals translate years of work and cooperation between Egypt and Germany,” Nasr said.

German Development Minister Gerd Müller pointed at El-Sisi’s attention to education and vocational training following a meeting, elaborating that the cooperation between both countries would include training teachers in a new training centre in Cairo next year.

They agreed to revamp vocational schools at a cost of 10 million euros ($10 million).

This week's visit to Germany is the Egyptian president’s fifth.

Egypt is Germany's third biggest trade partner in the Middle East, according to MENA agency.

The trade exchange between the two countries hit 3 billion euros ($3.3 billion) in the first seven months of 2019, up 15 percent on the same period last year.

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