Al-Mashat: There are 149 projects to finance investment in human capital, amounting to $ 5.5 billion

Princess Asia

Posted on: Monday, 04 July 2022 – 11:55 | Last updated: Monday, 4 July 2022 – 11:55

• The Ministry’s portfolio includes 67 youth-related projects worth $ 3.9 billion in various sectors
Dr Rania Al-Mashat, Minister of International Cooperation, said there were 149 projects to fund investment in human capital totaling $ 5.5 billion, with funds for education and scientific research amounting to $ 1.8 billion, entrepreneurship and small businesses $ 1.2 billion, health $ 9.7 million, and agriculture and security, food, $ 625 million, and social protection $ 962 million.

This happened during a meeting of the Minister of International Cooperation with the Human Rights Committee today in the House of Representatives, chaired by Tariq Radwan, and in the presence of Muhammad Abdulaziz, the Committee’s Deputy, and members of the Human Rights Committee.

She added that the ministry worked within the framework of the government’s program and the strategic goal of “building the Egyptian person”, to promote investment in human capital as a key focus in all strategies prepared together with multilateral and bilateral development partners. is.

She explained that the country’s strategy was recently launched with the European Bank for Reconstruction and Development 2022-2027, and was among its objectives to achieve comprehensive and sustainable economic growth by supporting efforts to develop human capital and women, girls and empowering youth, and is currently working in coordination with relevant parties from relevant ministries Civil society and the private sector are developing joint strategies with the United Nations, the African Development Bank, the United States International Development Agency and the World Bank prepare.

Al-Mashat talked about the funds that the ministry agreed on in the years 2020 and 2021, which amounted to about $ 20 billion, with $ 9.8 billion during 2020, while the development funds amounted to $ 10.2 billion in 2021, and many development sectors benefited from this. . funds, including transport, renewable energy, electricity, infrastructure, health, housing, water treatment, financing the purchase of wheat and building silos, and other priority sectors for the state, noting that the private sector’s share of funding during the two years is approximately $ 5 billion, part of which is financing and credit lines for banks and the other part is contributions from institutions International in private companies.

Al-Mashat revised the percentage of development funding for each sector out of the total various development funds during 2021, which amounted to $ 8.7 billion, of which 18% is for agriculture, irrigation and food security, 13% for transport and communications, 12%. for energy, and 19% for budget support, indicating development funds for 111 projects. In infrastructure, including transportation, housing, energy, irrigation and local development, at $ 18.5 billion.

She also touched on funds related to youth support, as the ministry includes in its portfolio 67 youth-related projects totaling $ 3.9 billion in various sectors of the country, including housing, education, entrepreneurship, small, medium and micro enterprises, digital transformation, social protection, innovation and scientific research.

She pointed to the belief of the political leadership in Egypt in the vital role of women in society and in achieving development, therefore President Abdel Fattah declared El-Sisi 2017 to be the year of women and the National Strategy for Women Empowerment 2030 , which represents an umbrella for all of Egypt’s partnerships with development partners on programs and agreements to support the economic and social role of women.

She said in light of the government’s commitment to the transition to a green economy and combating climate change, the role of women is prominent in this regard, and therefore the government encourages entrepreneurship and the work environment for beginners in all areas. , and addresses the challenges that prevent women entrepreneurs from being empowered and developing their businesses as well, including enabling them to find innovative solutions to meet economic challenges.

She added that the empowerment of women is one of the main goals the ministry is trying to achieve with multilateral and bilateral development partners, and only for that, last year, in partnership with the National Council for Women and the World Economic Forum, it has a catalyst to bridge the gender gap, and note that Egypt has thus become the first country In Africa and the Middle East and North Africa region, it launches this catalyst, with the aim of bridging the gender gap in the work areas in partnership between the public and private sectors and civil society.

Regarding Sinai development projects, she said that international partnerships contribute to the implementation of the government’s ambitious program for the development of the Sinai Peninsula, where about 150 towns in the Sinai Peninsula benefit from development funds from Arab funds, through the provision of 2,600 new housing, recycling and redevelopment of 18,000 hectares and basic services that benefit. Of them more than 558 000 citizens.

She pointed out that the development funds signed with the Arab funds for the development of the Sinai Peninsula amounted to about $ 804 million, in the sectors of water desalination, infrastructure, education and drainage, in a way that strives for sustainable development. to effect reinforced. .

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