Egypt, EU ink accords to boost private sector

CAIRO, June 29 (KUNA) -- Egypt and the European Union on Saturday signed four funding agreements aimed at boosting the private sector in tourism and agriculture and digital transformation, according to a statement released by the Egyptian government.

One of the accords, inked during the Egyptian-European Investment Conference, envisaged European allocation of USD 281,7 million to back up the private sector and a number of Mediterranean countries in sectors such as sustainable tourism, cultural heritage, creative and cultural industries, digital transformation, agriculture, agricultural food, the blue and circular economies, teaching, training energy and green construction.
A separate agreement earmarks USD 26.78 million for investment in supporting the youth.
The third one is specialized for supporting the next generations with a USD 8.57 million fund. The fourth accord is designed to help African nations produce vaccines and medicines, with an allocation of USD 3.21 million. (end) mm.rk.