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Egypt : EGYPT secures a loan of US$25m to Develop Vocational Training Centers from IDB

August 2, 2014

The Egyptian Trade and Industry Minister Mounir Fakhry Abdel-Nour has announced in a written statement on Tuesday that an exclusive program has been implemented to set up vocational training centers, with affiliation from the department of productivity sufficiency.

In this statement, Abdel-Nour has added that the country will receive a loan worth $25 million from the Islamic Development Bank (IDB) in order to support the program. As part of Egypt s framework of persistent collaboration with the IDB, the Bank will deliver the funding.

The dedicated program is intended to enhance job opportunities for the young Egyptians via the development of appropriate level of skills through better quality vocational trainings in line with the requirements of the labor market.

The Egyptian Minister has further stated that the program plays a major role to reduce joblessness rates among the young the countrymen.

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Source: TendersInfo (India)

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