Egypt and the EU have signed four financing agreements.

Egypt’s Prime Minister Moustafa Madbouli observed the signing of four agreements financed by grants provided by the European Union (EU) at the Egypt-EU Investment Conference. The event was attended by President Abdel Fattah El Sisi and European Commission President Ursula von der Leyen, as reported by the Middle East News Agency (MENA) on Saturday.

The agreements were signed by International Cooperation Minister Rania el Mashat and EU Commissioner for Neighborhood and Enlargement Olivér Várhelyi. The first agreement is the "cross-border cooperation program for the Mediterranean Sea basin phase III for 2021-2027", under which the European Union will provide €263 million in funding, representing 89% of the total program budget of €292 million for 15 countries.

The second agreement is related to the "EU support to youth employment and skills in Egypt" program, with a total of €25 million allocated. The program aims to provide training in technical and vocational skills for employment, decent jobs, and entrepreneurship for young people.

The third agreement involves the "EU support to the next generation" with an €8 million grant, aiming to strengthen the national child protection systems in Egypt by addressing child protection frameworks, combating child labor, and ensuring children's rights to education, health care, nutrition, and housing.

The fourth agreement focuses on the "special measures to enhance the African continent's capacity to manufacture vaccines and medicines and apply health technologies" project, with a €3 million grant. The project aims to boost local vaccine manufacturing, support a conducive environment for the production of medical and health technologies, and enhance skills through research and development.