Egypt’s prime minister Hisham Kandil reaffirmed today that the government is committed to fighting unemployment during the opening session of the "Youth Employment: Building the Future of Egypt" conference hosted by the African Development Bank (AfDB) in collaboration with the Social Fund for Development (SFD). Kandil said he would accomplish this through the formation of a ministerial committee under his auspices that aims to create 750,000 jobs by supporting small businesses with the support of the SFD.
The prime minister expressed interest in working with the AfDB to implement a short-term strategic plan, which calls for $2.5 billion in financing over the next two years for strategic projects, such as the expansion of Sharm El-Sheikh International Airport and renewable energy projects at the Kom Ombo station in addition to water and sanitary projects.
Kandil also pointed out that the government formed a ministerial committee for training and employment that aims to launch specific short-term programs with a focus on governorates with high poverty rates. This committee would set policies required to activate the labor market and track the progress in implementing programs as well as allocate funds.
The AfDB released the Bank’s 2012 flagship report, the African Economic Outlook, that details its confidence in Egypt’s recovery, provided the government can get the support of everyday Egyptians. However, tensions continue to mount with clashes taking place outside the presidential palace over president Mohamed Morsi’s supreme powers and constitutional referendums.
Make sure you visit and click ‘Like’ on our Facebook page to receive even more news and updates from Alternative Energy Africa.