NBE, Banque Misr finance educational, training grants by LE 400M

CAIRO – 19 July 2017: The Ministry of Planning signed a cooperation agreement with Banque Misr and the National Bank of Egypt worth LE 400 million ($22.30 million) on Tuesday to finance educational and training programs.

The programs aim to raise the efficiency of the state’s administrative body through developing the human resources, as the main component to achieve economic growth, Planning Minister Hala el-Said said in a statement.

The minister added that part of the deal will be used to support launching small and medium enterprises (SMEs) and spreading the self- employment culture.

This cooperation reflects the ministry’s concern to achieve Egypt’s Vision 2030 by increasing investments in the human resource through educational and training programs that will decrease the development gaps, the statement read.

The grant will also finance the expansion in the business incubators in universities to provide youth with the necessary awareness to open their private businesses.

The agreement includes implementing community awareness activities to spread the SMEs culture of self- employment and entrepreneurship , in addition to the financial inclusion awareness to expand the banks’ clients base, which will promote the role of the banks sector in economic growth.

Educational and training grants will be also offered to the public sector employees to meet the country’s priorities.