EBRD boosts youth participation in Egyptian economy

13-10-2021
EBRD-Egypt
EBRD-Egypt
Copyright: EBRD

The European Bank for Reconstruction and Development (EBRD) is increasing economic opportunities in Egypt by collaborating with Hyundai Rotem to offer certified training to 80 unemployed young people.

The training will focus on topics related to the maintenance of rolling stock for Cairo Metro Line-II, a major infrastructure project which the EBRD supported in 2016 with a loan of up to €100 million. The Bank’s financing was earmarked for the purchase of rolling stock, including spare parts and maintenance equipment, but it also came with a commitment to support a youth training programme.

The curriculum will consist of a theoretical part and of practical, on-site training. This structure will allow trainees to acquire relevant skills and hands-on experience in rolling-stock management, enabling them to access employment in asset-intensive sectors in Egypt, such as the metro, railways and utilities.

Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the Bank has invested more than €8 billion in 136 projects in the country.

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Press release