Egyptian Minister of International Cooperation Rania Al-Mashat said that the ongoing portfolio of cooperation with development partners is worth $25 billion, through which projects in various development fields are being implemented, of which 67 are implemented for youth.
In a statement issued on Tuesday, Al-Mashat said that the ministry’s ongoing portfolio includes 67 youth-related projects worth $3.9 billion, in the sectors of digital transformation, small and medium sized enterprises (SMEs), education, capacity building, entrepreneurship, social protection and scientific research.
She referred to the Egypt Entrepreneurship and Investment Company, which is the first venture capital company with a government contribution that works to support and develop entrepreneurship and innovation. “Every dollar injected by the company as investments in emerging companies, attracts 4 dollars in foreign and private investments.”
This came during Al-Mashat’s participation in the launch of the Egyptian version of the United Nations Children’s Fund (UNICEF) in Egypt “Generation Unlimited” under the name of “Balad Youth”: as part of the activities of the fourth edition of the World Youth Forum.
This minister stressed the importance of the youth component in the 2030 Vision; as 58% of the population in Egypt is under the age of 30, noting that the launch of the “Balad Youth” initiative, in the activities of the World Youth Forum, reflects Egypt’s interest in all Initiatives that open horizons of innovation, creativity and enhance youth participation in development efforts.
Egypt is the first country in the region to witness the launch of the initiative after it was launched by the United Nations in more than 50 countries around the world, with the aim of supporting and empowering youth in the fields of education, employment, entrepreneurship and participation.