Ministry of Education and Germany’s KfW Development Bank have agreed on EUR 41.5 mn (EGP 750.5 min) deal to boost and upgrade multiple vocational and applied technology education schools in Egypt, Invest-Gate reports.

The agreement involves setting up two applied technology institutes in Hurghada and Aswan, along with the advancement of several vocational training and applied technology centers in Greater Cairo, Alexandria, and Gharbiya, according to a recent press release.

Specifically, the funding composes a soft loan worth EUR 20 mn (EGP 361.7 mn) and a grant valued at EUR 18 mn (EGP 325.5 mn), provided by Germany, while Egypt will make an in-kind contribution estimated at EUR 3.5 mn (EGP 63.29 mn), as highlighted in the statement.

Currently, the North African country comprises 2,472 vocational schools, with just 284 (11%) of which run by the private sector. Thus, the Ministry of Education earlier ratified the enlisting of non-public players to help develop a more robust vocational education system.

Accordingly, in a bid to address a shortage of key skills in the job market, authorities are setting up a program through which private players would invest in executing 100 technical schools by 2030, with 10 establishments being rolled out each year, Deputy Education Minister for Technical Education Mohamed Megahed uncovered back in February.