The Facility Investing for Employment (IFE) announced signing two grant agreements with Al Rofayda Hospital for Women and Children and Luna for Perfumes and Cosmetics.
This cooperation will create 1,308 job opportunities, with women filling nearly half of the positions. This supports Egypt’s efforts to empower women economically while enhancing their societal role.
During the signing ceremony, Mr. Steffen Kuhl, Managing Director of the Facility Investing for Employment (IFE), commented, “Egypt has a vast human resource, and therefore, the initiative works on creating new job opportunities and supporting the localization of industries, especially with the rapid growth of the Egyptian market.” He further noted that investing in human capital helps bridge the gap between the growing population and the evolving market needs, improving both the quality of work and employee conditions, in addition to empowering Egyptian women and emphasizing their role in social development.
Kuhl also explained that the total grant agreements signed are worth €8.56 million, aimed at creating 1,308 new jobs, including 857 jobs at Rofayda Hospital and 451 at Luna Perfumes and Cosmetics, knowing that women will occupy 50% of the jobs.
Rofayda Hospital’s project will involve a significant expansion, introducing specialized departments, including a pediatric department equipped with the latest technologies for treating heart, neurological, and urological diseases. Other planned facilities include a comprehensive reconstructive surgery department, a fully equipped rehabilitation center, and a department for treating cerebral palsy. Meanwhile, Luna intends to build a new logistics hub in the Giza governorate, with plans to expand its operations throughout Egypt after achieving considerable success in Cairo and Alexandria. This aligns with state strategies to support local production.
The Facility Investing for Employment (IFE) is an investment mechanism created by KfW Development Bank on behalf of the German Federal Ministry for Economic Co-operation and Development (BMZ) as an integral part of the Special Initiative on Training and Job Creation “Decent Jobs for a Just Transition” Operating under the brand “Invest for Jobs”, the Facility aims to remove investment barriers that prevent the creation of new and better jobs in the private sector in its partner countries in Africa: Egypt, Côte d’Ivoire, Ethiopia, Ghana, Morocco, Rwanda, Senegal, and Tunisia.
