IDB Loans Egypt U.S.$25 Million to Develop Vocational Training Centers

ecTrade and Industry Minister Mounir Fakhry Abdel-Nour said Tuesday 2972014 that a program for developing vocational training centers, affiliated to the department of productivity sufficiency, has been adopted.

In a statement released, Abdel-Nour said that the Islamic Development Bank (IDB) would provide $25 million as a loan to support the program, within the framework of continuous cooperation between the Bank and Egypt.

The program is meant to improve job opportunities for Egyptian youth through the provision of relevant skills through the quality of vocational training which fit the needs of the labor market.

Abdel-Nour added that the program significantly contributes to the reduction of unemployment rates among young people.

Source : Egypt State Information Service