US$45 million by USAID to finance new Entrepreneurship and Employment Programs in Egypt

US Agency for International Development (USAID) announced financing of 2 new programs worth US$45 million that will promote small businesses in Egypt and train students to help them successfully compete for jobs. An amount of US$22.9 million will be targeted to “Strengthening Entrepreneurship and Enterprise Development” (SEED), a 4-year program that will provide technical assistance to small businesses throughout Egypt to help them qualify and gain access to bank loans, develop new business ideas, and conduct market research. Remaining US$22.1 million will fund a new educational program called “Workforce Improvement and Skills Enhancement” (WISE), that supports quality education at Egyptian vocational schools, especially by partnering with manufacturing and service companies to develop the technical skills of students and future job-seekers.