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27 August 12:00 AM

Egypt, ILO sign $3.7 m cooperation protocol

Egypt and the International Labor  Organization (ILO) signed on Monday a 3.7 million-dollar cooperation protocol for creating jobs for youths through supporting private sector investments in various economic sectors, especially in rural areas in Egypt.

Egyptian Investment and International Cooperation Minister Sahar Nasr inked the deal with Director of the ILO Office in Cairo  Peter Van Rooij.

The Belgian government will finance the three-year protocol.

Nasr said the protocol falls within the framework of the ministry's efforts to improve the investment climate, especially small and medium sized enterprises (SMEs) in line with the sustainable development goals, according to a statement by the Investment and International Cooperation Ministry.

The protocol is meant to realize institutional development and offer direct technical support, especially through building capabilities of training institutions, the statement said.

 The protocol also aims at securing jobs and helping SMEs to improve its productivity and competitiveness.

 Under the protocol, the ministry will offer training packages to promote emerging SMEs.

Director of the ILO Office in Cairo  Peter Van Rooij said the protocol aims to serve the ministry's project for creating jobs for Egyptian youths.

The protocol is also meant to establish a link between pioneering companies in a number of economic sectors and SMEs to bolster the role of SMES in the Egyptian economy.

 Counsellor of the Norwegian embassy in Cairo Tor Haug said the Norwegian government offers continued support for promoting economic growth in Egypt to largely contribute to attaining the sustainable development goals.

 He stressed his country's keenness on engaging in partnership with the Egyptian government and the ILO to generate jobs for Egyptian youths through promoting the role of private sector in various economic scores.

 

 

 

  

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