Egypt’s Minister of Youth and Sports Ashraf Sobhi said his ministry seeks to provide decent and sustainable job opportunities for young people, with a view to reducing unemployment rates and grasping the wheels of production.
Sobhi made the remarks during his meeting with Alaa Farouk, Chairman of the Board of Directors of the Agricultural Bank of Egypt Thursday, at the Sports Ministry’s premises in the New Administrative Capital to discuss ways of fostering bilateral cooperation.
The sports minister added his ministry is carrying out “Egy Truck” initiative in cooperation with the Local Development Ministry. The initiative aims to secure decent and sustainable jobs for young people, promote entrepreneurship and cut unemployment rates.
The two sides probed mechanisms for funding the initiative’s first phase in Faiyum governorate, through offering soft loans to youth and providing distinct locations for mobile food trucks in the governorate.
Sobhi and Farouk also explored the possibility of providing financial support by the Agricultural Bank of Egypt for microenterprises and allocating permanent headquarters for micro-projects at youth centers nationwide.
Farouk said the Agricultural Bank of Egypt is keen on helping young people run their microenterprises, which will contribute to providing them with a decent life and improving the quality of life for Egyptian youth.
