The Egyptian cabinet, led by Prime Minister Mostafa Madbouly, has approved several urgent decisions aimed at supporting the country's economy and education sector. One of the key decisions is the approval of a project to finance the second phase of the Development Policy Financing program, which aims to support Egypt's economic and social development. The program is funded by the World Bank and is valued at $500 million.
The second phase of the program focuses on three main areas: enhancing competitiveness and improving the business environment, strengthening the economy's resilience to external shocks, and supporting the transition to a green economy. The program is designed to support Egypt's efforts to achieve sustainable economic growth and improve the standard of living for its citizens.
In addition to the World Bank financing, the cabinet has also approved the formation of a national committee to manage coastal areas. The committee, which will be chaired by the Prime Minister, will be responsible for developing strategies and plans to manage coastal areas and ensure their sustainable development. The committee will also be responsible for coordinating with different government agencies and stakeholders to achieve its objectives.
The cabinet has also approved several other decisions, including the allocation of funds to support the printing of school textbooks. The Ministry of Education has been authorized to contract with a private company to print and supply French language textbooks for primary and secondary schools. The contract is valued at over 500,000 copies and will be funded from the ministry's budget for the 2026/2027 financial year.
Furthermore, the cabinet has approved several requests from government agencies to enter into contracts for various projects. These projects include the development of a new building for the Faculty of Pharmacy at Cairo University and the construction of a new building for the College of Computing and Information at the University of Arish. The contracts are valued at several million dollars and are aimed at supporting Egypt's education and healthcare sectors.
The cabinet has also approved a request from the Consumer Protection Agency to contract for the design, construction, and equipment of a new regional branch in Sharm El-Sheikh. The project is aimed at enhancing the agency's capacity to protect consumer rights and provide better services to citizens and tourists in the city.
Overall, the Egyptian cabinet's decisions are aimed at supporting the country's economic and social development, improving the education and healthcare sectors, and enhancing the business environment. The decisions are also expected to have a positive impact on the country's infrastructure and services, ultimately benefiting Egyptian citizens and tourists alike.
Key points
- The Egyptian cabinet has approved a $500 million loan from the World Bank to support the country's budget and education sector.
- The cabinet has also approved the formation of a national committee to manage coastal areas and ensure their sustainable development.
- The decisions are aimed at supporting Egypt's economic and social development, improving the education and healthcare sectors, and enhancing the business environment.
