Egypt and Germany signed three agreements worth EUR 320 mn on October 10 to support Egypt’s ongoing reform program, Invest-Gate reports.

One of the agreements is the signing of a first tranche worth EUR 225 mn of Germany’s fund for Egypt’s economic and social reforms and is part of a broader EUR 450 mn package.

A total of EUR 45 mn will be allocated to financing employment, education, energy and infrastructure projects in Egypt.

The deals also stipulate that German development bank KfW will provide Egypt with EUR 50 mn to support the entrepreneurship program and small and medium-sized enterprises (SMEs).