Latest news with #INTERREGNEXTMED
Egypt Today
27-03-2025
- Business
- Egypt Today
PlanningMin anticipates Egypt-EU MoU signing of €4B to be held in H2 of 2025
Cairo – March 27, 2025: Egypt is poised to sign a memorandum of understanding with the European Union later this year for a €4 billion ($4.3 billion) financing package, as stated by Rania Al-Mashat, the Minister of Planning, Economic Development, and International Cooperation. This financing is a segment of a larger €7.4 billion agreement made between Egypt and the EU in March of last year. The package is designed to support Egypt's economy and address the challenge of limiting future migration across the Mediterranean, with European states seeking to bolster Egypt's financial position. Al-Mashat confirmed the news during a press conference on Wednesday, noting that discussions surrounding the funding have been ongoing with a visiting EU delegation since early March. She expressed confidence that the EU's 27 member states would adopt the financing plan by June. As part of the agreement, Egypt received the first tranche of the €7.4 billion package, totaling €1 billion, in January. The remaining €5 billion, which falls under the EU's macro-financial assistance program, requires approval from both the European Parliament and EU member states. The €7.4 billion package also includes investments and grants and came in response to Egypt's worsening financial conditions, exacerbated by various regional crises, including the Gaza war, Houthi attacks in the Red Sea, and the ongoing fallout from the war in Ukraine. In addition to this agreement, Egypt has signed a record investment deal with the United Arab Emirates and secured an extension of its $8 billion program with the International Monetary Fund (IMF) in 2024. EU-Egyptian cooperation covers a multitude of fields, including INTERREG NEXT MED cross-border cooperation program, funded by the European Union, which secured €134 million in funding. In early March, Al-Mashat, announced that her ministry is working on launching the Investment Guarantees for Development Mechanism in partnership with the EU. This initiative aims to activate €1.8 billion in investment guarantees, with the goal of mobilizing up to €5 billion in investments to support green transition sectors and other priority areas.
CairoScene
20-03-2025
- Business
- CairoScene
EU to Fund 26 Mediterranean Development Projects in Egypt
Egypt secures EU-backed funding for 26 projects under the INTERREG NEXT MED programme, supporting cross-border cooperation. Mar 20, 2025 Egypt has secured funding for 26 projects as part of the first phase of the INTERREG NEXT MED programme, an EU-backed cross-border initiative aimed at strengthening cooperation among Mediterranean countries. The Egyptian Cabinet confirmed Egypt's participation on March 17th, with the projects covering a range of development sectors. The programme encompasses 60 projects across the Mediterranean region, backed by a EUR 134 million budget, with EUR 119 million financed by the European Union. The funding will support projects focused on sustainable development, environmental sustainability, economic growth, and infrastructure improvements. INTERREG NEXT MED builds on previous EU-funded regional initiatives designed to enhance economic integration, resource management, and international cooperation. Egypt has been an active participant in similar efforts, using international funding to advance local development projects and bolster regional partnerships.
Zawya
18-03-2025
- Business
- Zawya
Egypt secures funding for 26 projects under EU's INTERREG NEXT MED programme
Egypt is set to participate in 26 projects within the first phase of the INTERREG NEXT MED cross-border cooperation programme for the Mediterranean Basin, after national coordination efforts led by the Ministry of Planning, Economic Development, and International Cooperation. The programme, funded by the European Union, aims to foster development across the Mediterranean region. The first phase encompasses 60 projects benefiting various countries, with a total funding of 134 million euros, of which 119 million euros is provided by the EU. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, announced the successful outcome of the coordination, highlighting that the 26 projects will be implemented in Egypt and other countries. According to Al-Mashat, the projects will promote regional development in the Mediterranean countries. The programmes and projects span various development sectors, including small and medium enterprises, tourism, education, scientific research, technological development, innovation, and social inclusion. Initiatives aimed at combating climate change, promoting environmental sustainability, improving water resource management and waste management, developing renewable energy, and supporting integrated coastal zone management will also be funded. Al-Mashat said the Ministry of Planning, Economic Development, and International Cooperation, in its role as the national coordinator for the programme, organised informational sessions to encourage entities to submit projects and benefit from the available funding. These sessions provided information on how to apply and prepare project proposals for the second call for proposals. Eighteen Egyptian entities are slated to receive funding under this phase, with some participating in multiple projects. Beneficiaries include the Ministry of Water Resources and Irrigation, SEKEM Development Association, the Confederation of Egyptian-European Business Associations (CEEBA), the Arab Academy for Science, Technology, and Maritime Transport, the National Institute for Oceanography and Fisheries, the British University in Egypt, and a number of civil society organisations. The INTERREG NEXT MED programme is being implemented through three calls for participation. The first call has been completed, and the second call is open for applications until 15 April 2025. The priority of the second call is to achieve green results and promote an inclusive approach to environmental sustainability. Applications can be submitted via this link: Participating Mediterranean countries include Egypt, Tunisia, Lebanon, Palestine, and Jordan. European countries involved are France, Italy, Spain, Greece, Cyprus, Malta, and Portugal. Eligible Egyptian governorates for funding include Cairo, Kafr El Sheikh, Dakahlia, Alexandria, Sharqia, Marsa Matrouh, Port Said, Beheira, Ismailia, and Damietta. The INTERREG NEXT MED programme aims to contribute to smart, sustainable, and inclusive development across the Mediterranean Basin by supporting balanced, long-term cooperation and multi-level governance. It seeks to fund cooperative projects addressing social, economic, environmental, and governance challenges across the Mediterranean, such as adopting advanced technologies, enhancing the competitiveness of small and medium enterprises, creating job opportunities, improving energy efficiency, sustainable water management, climate change adaptation, transitioning to a circular and resource-efficient economy, education and training, and healthcare. More information about the selected projects in the first phase can be found here:
Egypt Today
17-03-2025
- Business
- Egypt Today
Egypt expands regional cooperation with 26 projects under EU-Funded INTERREG NEXT MED Program
CAIRO – 18 March 2025: Egypt has successfully secured participation in 26 projects as part of the first phase of the INTERREG NEXT MED cross-border cooperation program, an initiative funded by the European Union. This accomplishment underscores Egypt's dedication to regional development and innovation across a wide range of sectors. Out of 60 projects selected in this phase, benefiting multiple Mediterranean countries, the program has secured a total funding of €134 million, with €119 million contributed by the EU. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, announced that Egypt's strong participation in this initiative results from coordinated national efforts and collaboration with key stakeholders. She emphasized that the selected projects align with the government's broader strategy to drive economic growth, entrepreneurship, technological innovation, and environmental sustainability. These projects will contribute to scientific research, small and medium enterprises (SMEs), tourism, education, and social inclusion, strengthening Egypt's position as a leading partner in regional cooperation. Many initiatives within this phase also focus on water resource management, waste reduction, renewable energy development, and integrated coastal zone management, reflecting a shared commitment to sustainability and climate action across the Mediterranean region. Al-Mashat highlighted that 18 Egyptian entities will receive funding in this phase, with some involved in multiple projects. Among the key beneficiaries are the Ministry of Water Resources and Irrigation, SEKEM Development Association, the Confederation of Egyptian-European Business Associations (CEEBA), the Arab Academy for Science, Technology, and Maritime Transport, the National Institute for Oceanography and Fisheries, and the British University in Egypt, alongside several civil society organizations. With the first call for projects successfully completed, the second call remains open until April 15, 2025. This phase prioritizes green transformation and sustainability, promoting projects that foster an environmentally responsible economic shift. The INTERREG NEXT MED program operates at a regional level, engaging countries such as Egypt, Tunisia, Lebanon, Palestine, Jordan, and seven European nations, including France, Italy, Spain, Greece, Cyprus, Malta, and Portugal. Within Egypt, the eligible governorates for funding include Cairo, Alexandria, Dakahlia, Kafr El-Sheikh, Sharqia, Beheira, Ismailia, Port Said, Marsa Matrouh, and Damietta, offering significant opportunities for development projects across vital sectors. Now in its third generation, the INTERREG NEXT MED program remains one of the largest EU-funded cooperation initiatives, promoting cross-border collaboration in the Mediterranean region. By supporting projects that address economic, environmental, and governance challenges, the program fosters long-term, sustainable development and regional integration, reinforcing Egypt's role as a key contributor to Mediterranean progress.
