Egypt has signed a cooperation protocol to manage the resources of its Support Fund for Innovators and Geniuses, with the aim of improving investment returns and strengthening entrepreneurship development plans.
The agreement was signed by Abdel Aziz Konsowa, Minister of Higher Education and Scientific Research and acting Minister of Culture, and Ahmed Rostom, Minister of Planning and Economic Development. Both also chair the boards of the fund and the National Investment Bank, respectively.
Prime Minister Mostafa Madbouly witnessed the signing and said the agreement would create a framework for coordination between the two ministries. According to the announcement, the protocol is designed to maximise the use of public financial resources and assets through professional investment mechanisms.
These mechanisms are expected to support and finance development and economic-impact projects and initiatives, while also contributing to Egypt’s plans to advance entrepreneurship, the announcement said.
Source: Fintech Gate
