Nearly two-fifths of young Egyptians under the age of 24 are unemployed and one-third are not in any form of employment, education or training. Through an investment in a retail and entertainment centre in a suburb of Cairo, we are helping to address the skills gap among young Egyptian job seekers while boosting retail infrastructure.
The EBRD is providing US$ 60 million (€49.6 million equivalent) to fund the development of the Mall of Arabia, the first phase of the Arabian Centres development in an important satellite town on the edge of Cairo. The project will create some 5,000 jobs in total.
Twenty-five international and local fashion brands operating in the centre will form a partnership to provide on-site, work-based training, for young women in particular. The training will be based on best international standards and meet the needs of employers. At least 100 young job seekers will undergo vocational training in subjects such as English, customer relations, store and facilities management.
The project is expected to have a systemic impact on vocational training in Egypt. The private employers providing on-site training will help to develop national training standards for the retail sector. This will ensure a better match in the long term between the requirements of industry and the skills of young people.
The project will create around
young job-seekers will undergo training