IFE signs 2 agreements to support EVs industry localization, food industry in Egypt

The Facility Investing for Employment (IFE) has signed two grant agreements worth €6.5 million with Ghabbour Foundation for Development and the Dutch Ice Cream Company (DARA’s Ice Cream) to create 1,200 direct and indirect job opportunities, according to an emailed release on March 9th.

The deal signed with Ghabbour Foundation aims to localize the electric vehicles (EV) industry in Egypt and create up to 500 job opportunities, IFC’s Managing Director Rauf Khalaf said.