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Germany offers Egypt €41m in debt swap to develop technical education - Daily News Egypt

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Germany offers Egypt €41m in debt swap to develop technical education

Technical education agreement is part of second phase of Egypt-Germany debt swap programme

The German state-owned investment and development bank, KfW, has provided financing of €41m to Egypt, under the debt swap programme with the latter’s Ministry of Education and Technical Education, according to Egypt’s Minister of International Cooperation Rania Al-Mashat.

The financing will go towards implementing the Comprehensive Technical Education Reform Initiative (TCTI) in Egypt.

This comes in light of the joint economic relations with Germany, and the Ministry of International Cooperation’s endeavour to support Egypt’s development agenda through international partnerships.

The comprehensive technical education agreement with Egypt is the last one to receive financing, as part of the second phase of the debt swap programme between Egypt and Germany.

The total value of the second phase amounts to €80m, through which three development projects will be implemented in several sectors, including technical and vocational education.

Minister Al-Mashat said that the new agreement supports national efforts to develop technical education, prepare students for the labour market, and boost employment opportunities.

This comes in line with the UN’s sustainable development goals (SDGs), specifically: SDG 4 on Quality Education; SDG 8 on Decent Work and Economic Growth; and SDG 17 on Partnerships For the Goals.

The minister commended Egypt’s cooperation with Germany to secure grants and funds through contracts concluded between the Ministry of International Cooperation, state ministries, and the German Corporation for International Cooperation (GIZ).

This is in addition to the projects funded by the Egyptian-German debt swap programme, and implemented in cooperation between Egyptian ministries and the KfW.

Minister Al-Mashat pointed out that coordination is underway with Germany to make the third tranche of the second phase available during the next year, after coordinating with stakeholders in Egypt and receiving proposals on priority projects.

She emphasised her ministry’s eagerness to benefit from debt swap programmes in providing funds for development priority projects, to serve the national development agenda and achieve the country’s SDGs.

These efforts come as part of the three principles for Economic Diplomacy, namely: the Multi-stakeholder Platforms; the Official Development Assistance Mapping to the SDGs; and the Global Partnerships Narrative through People at the Core, with Projects in Action, with Purpose as the Driver.

It is worth noting that the ongoing cooperation portfolio with Germany amounts to €1.7bn financing 30 projects through funds and technical assistance grants. The projects cover a wide array of sectors, namely: renewable energy; sanitation; water resource and solid waste management; migration; labour market; innovation in the private sector; technical education; vocational training; urban development; administrative reform; women; youth; and local development.

The first phase of the debt swap programme with Germany was completed, with total development financing worth €70m, serving several projects.

The financing covered projects such as school development through feeding programmes and improving the quality of education, rehabilitating hydropower plants, developing Assiut Barrages, and improving drinking water and sanitation.

The first tranche of the second phase, worth €10m, was made available to the Ministry of Education and Technical Education for the Education Quality Support Project (Phase II). This was in addition to the second tranche of the second phase of the programme, which  was  worth €80m.

The fund was directed at several projects across various sectors, notably the development of the Human Capital in Rural Upper Egypt. This took place in collaboration with the World Food Programme in cooperation with the Ministry of Education and Technical Education.

Financing also went towards an improved water and wastewater services programme (IWSP) in the governorates of Qena, Assiut, Minya, and Sohag, alongside the new Comprehensive Technical Education Reform Initiative (TCTI).

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