On Tuesday 20 December, EU High Representative for Foreign Affairs and Security Policy Federica Mogherini and Egypt's International Cooperation Minister Sahar Nasr signed a €60 million initial financing agreement under the EU Facility for Inclusive Growth and Job Creation.
The EU Facility for Inclusive Growth and Job Creation consists of two components focusing on: (i) supporting reforms to improve the environment for business creation and economic development, and (ii) facilitating access to finance for SMEs to add value in the economy and to generate jobs, particularly for young people, explains a European Commission press release. The instrument will leverage some €420 million, including from EU financial institutions.
Nasr and Mogherini also signed an amendment to an existing financing agreement implemented by the World Food Programme. This amendment will allow the provision of school meals for to up to 500,000 of the most vulnerable children attending state primary schools in poor governorates from February 2017. Nasr said the aid was of a value of €60 million. (Original version in French by Camille-Cerise Gessant)