The Tahya Misr Fund announced the delivery of 22 trucks, to the beneficiaries of youth empowerment projects, in the governorates of Daqahleya, Kafr El-Sheikh, Matruh, Sharqeya, Menoufiya, Fayoum, and Qena, according to a Friday press statement.
The fund plans to distribute a total of 356 1.5-tonne capacity trucks in 22 governorates by the second quarter of 2018, of which 245 have been delivered so far.
The project comes in accordance with the directives of President Abdel Fattah Al-Sisi that the fund assist state institutions in supporting economic activity and empowering young people.
The fund is financing the projects with around EGP 300m, in order to create 5,000 jobs, in cooperation with the Small and Medium Enterprise Development Authority (SMEDA) and the Ministry of Supply and Internal Trade.
On the other hand, another 500 trucks with a capacity of five tonnes were distributed, at a cost of EGP 114m, in order to create 1,500 job opportunities.