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Egypt agrees 1,000 projects to boost youth jobs

CAIRO, May 20, 2015

Egypt’s Ministry of Local Development has approved over 1,000 projects in one month under a national youth employment initiative, a report said.

The national initiative for community, human and local development, entitled “Your Project” (Mashrou’ak), is worth EGP34 million ($4.4 million) in investments, Minister of Local Development Adel Labib, was quoted as saying in the Daily News Egypt report.

The initiative targets sustainable development, eliminate emigration from villages to cities, improve the quality life and to create a new generation of young investors, according to Labib.

The first phase of the initiative includes 11 governorates, including Giza, Upper Egypt and border governorates, said Labib, noting that the second phase of the initiative will begin next week in the northern governorates.

“Approximately EGP3 billion ($392 million) will be invested as down payment in those 11 governorates to implement small- and medium-projects for youth in several sectors,” Labib said.

The initiative will include three tracks, expanding existing projects and governorate-focused projects as well as unconventional ideas, he said.

Egypt’s unemployment rate has slightly decreased in the first quarter of 2015 to register 12.8 per cent, down from 12.9 per cent in Q4 of 2014, and 13.4 per cent in the corresponding quarter last year, the report said, citing the Central Agency for Mobilisation and Statistics.




Tags: Egypt |

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