{"id":27129,"date":"2020-12-24T13:18:40","date_gmt":"2020-12-24T12:18:40","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=27129"},"modified":"2021-10-07T00:23:49","modified_gmt":"2021-10-07T00:23:49","slug":"reconstruction-bank-props-up-egypts-tourism-sector","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/reconstruction-bank-props-up-egypts-tourism-sector\/","title":{"rendered":"Reconstruction Bank props up Egypt\u2019s tourism sector"},"content":{"rendered":"<p><strong>By PANA<\/strong><\/p>\n\n\n<p>The European Bank for Reconstruction and Development (EBRD) is breaking fresh ground with a US$ 12 million loan to Al Dau Al Haram for Hotel Operations for the regeneration of a brownfield site into a Hyatt Regency hotel, to promote the introduction of green technology, and youth and women inclusion in Egypt..<\/p>\n\n\n<p>The proposed hotel will nest under the wings of the Grand Egyptian Museum and Great Giza Pyramids and serve this new cultural hub of Cairo, allowing local and international tourists to experience world heritage sites representing 4,000 years of Egyptian history, the EBRD said in a press release on Wednesday.<\/p>\n\n\n<p>\u201cThe development of this hotel will address significant inclusion gaps in Egypt, in relation to youth unemployment and skills mismatch. It is expected that more than 300 jobs will be directly generated and viable progression routes from training into employment will be created for at least 250 young people,\u201d it said.<\/p>\n\n\n<p>According to the statement, the project will include a high-quality training programme, funded by the Swiss State Secretariat for Economic Affairs (SECO), and work-based learning opportunities in hospitality and tourism for young people, promoting in particular women\u2019s participation.<\/p>\n\n\n<p>The Bank will also promote advanced environmental sustainability practices in the Egyptian hospitality sector through the installation of resource efficient technologies at the hotel. The EBRD and Al Dau Al Haram are assessing further innovative climate-change-related technologies with low market penetration in Egypt that would be eligible for support by the Finance and Technology Transfer Centre for Climate Change programme (FINTECC).<\/p>\n\n\n<p>Al Dau Al Haram for Hotels Operations SAE is a company established in Egypt to develop and operate the planned 249-room Hyatt Regency hotel within the Pyramids Heights Business Park in West Cairo. The company is part of the Al Dau Development group of companies active in the hospitality sector in Egypt and UK.<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-27129\" data-postid=\"27129\" class=\"themify_builder_content themify_builder_content-27129 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>EBRD  gives US$ 12 million loan to Al Dau Al Haram for Hotel Operations  to boost tourism in Egypt.<\/p>\n","protected":false},"author":1,"featured_media":3401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[187,65],"class_list":["post-27129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","tag-bank","tag-egypt","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - 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