CAIRO, Dec 25 (MENA) - The Cabinet reviewed Wednesday the final draft of the new labor law, which was previously approved in the 18th government meeting on November 6.

The meeting reached a number of other comments raised, in preparation for sending the final version to the parliament.

The Cabinet also approved, during its meeting a draft presidential decree regarding Egypt's contribution to financing the fifth phase of the International Monetary Fund's Middle East Technical Assistance Center (METAC) program, in support of the center's role in providing technical and technological support to the countries of the Middle East and North Africa region, to assist in developing financial and monetary policies.

Egypt is one of the founding countries of the METAC, contributing to its financing, and benefiting from the technical support provided through it to member states.

Egypt will also host a number of the METAC meetings, and it is scheduled to sign a memorandum of understanding (MoU) regarding the Egyptian contribution to financing the fifth phase during the Center's celebration in Cairo on the 20th anniversary of its establishment.

The Cabinet also approved a draft presidential decree regarding decisions of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) Nos. 259 and 260 regarding amending the agreement establishing the EBRD, to enable the geographical expansion of its operations in Sub-Saharan Africa and Iraq, to enhance the Bank's activity in economic development.

Removing legal restrictions on the capital for regular operations was also discussed in order to protect the financial soundness and sustainability of the EBRD. (MENA)
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