CAD 50 Million in Support of Development Projects in Egypt
CAD 50 Million in Support of Development Projects in Egypt
Source : Egyptian Ministry of International Cooperation Website
15-июн-2016
Dr. Nasr discusses cooperation in the fields of SMEs and vocational & technical training programs with her Canadian counterpart.
On the sidelines of her participation at Montreal International Conference, the Minister of International Cooperation Dr. Sahar Nasr participated at a session under the title of “Shaping a New Era of Prosperity”, held under the auspices of the International Economic Forum of the Americas.
The session was held in presence of the Canadian Minister of Transport, a representative of Senegal PM, and representatives of major investment companies, and was managed by the Head of the Canadian Chamber of Commerce.
The Minister emphasized that Egypt had an ambitious integrated economic program, based on the development of infrastructure and logistic services. She shed light on some national projects launched by the Egyptian Government, the most important of which were the Suez Canal axis development project and the national road network development program, which would have a positive impact on connecting Egypt to the international transport such as the Cairo- Cape Town road. This in addition to social housing projects, given that President el-Sisi and the Egyptian Government give priority to providing youth with housing and developing informal areas.
Dr. Nasr pointed out that the Egyptian Government spared no efforts to complete these projects within two years, according to directives of President el-Sisi, adding that these projects aimed to encourage investments within the framework of establishing the necessary infrastructure network for supporting investments in Egypt.
Further, the Minister met with the Canadian Minister of International Development Ms. Marie- claude Bibeau, where both officials discussed the means of enhancing the Egyptian- Canadian economic relations as well as the means of developing joint developmental cooperation projects.
Both sides discussed several economic cooperation projects in line with Egypt’s priorities, plans and social development programs. Dr. Nasr emphasized the government’s keenness to enhance partnership with the Canadian side through the Canadian government’s contributions to supporting SMEs, which would, in turn, provide further job opportunities and develop vocational and technical training programs, besides capacity building for some training institutions in Egypt, within the framework of supporting Egypt’s strategy in the field of employment.
According to the Minister, negotiations are underway for designing and updating the SMEs support strategy, and the Canadian Government is expected to contribute to supporting development projects in Egypt with CAD 50 million during the upcoming period, which would further enhance cooperation relations between both countries.