Saudi Arabia backs Egypt’s digital future, crafts with $6.4m grant

CAIRO: Saudi Arabia has given one of Egypt’s largest banks a $6.4 million grant to finance digital transformation and encourage local crafts programs in the country.
Egypt’s Minister of International Cooperation, Rania Al-Mashat, said on Saturday that the Saudi Grant Management Committee funding for the Bank of Alexandria will strengthen financing mechanisms to support small, medium and micro enterprises, and create job opportunities.
The Saudi Arabia Grant Committee has funded 2,180 projects so far in 27 governorates, creating about 12,000 jobs.