Methanex Invests USD $2 Million to Support Decent Youth Employment in Egypt Through Partnership With International Labour Organization

Rhea-AI Summary

Methanex Egypt signs a new five-year partnership with the International Labour Organization (ILO) Cairo Office to support the Decent Jobs for Egypt's Young People (DJEP) program. The program will create 1,000 jobs and promote entrepreneurship in the Damietta region.

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• Methanex Egypt's partnership with ILO will create 1,000 jobs and promote entrepreneurship in the Damietta region.

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VANCOUVER, British Columbia, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Methanex Corporation (TSX:MX) (NASDAQ:MEOH), the world’s largest producer and supplier of methanol, is pleased to announce that its Methanex Egypt office has signed a new five-year partnership with the International Labour Organization (ILO) Cairo Office to support the Decent Jobs for Egypt's Young People (DJEP) program. Through a USD $2 million donation by Methanex Egypt, the program will create 1,000 jobs, promote entrepreneurship, facilitate job matching and build the capacity of local service providers to help youth in the Damietta region. This unique partnership is a testament to Methanex's commitment to making a positive impact on people's lives through its business.

“I’m proud of the ILO's positive impact on the Damietta community through our donation and am pleased to continue this partnership to support the creation of an additional 1,000 jobs over the next five years,” said Mohamed Shindy, Managing Director of Methanex Egypt. “The new partnership ensures Methanex Egypt's continued support for Egypt's Vision 2030 and the UN Sustainable Development Goals by empowering young women and men in their pursuit of better lives and decent work.”

Since 2019, Methanex has partnered with the ILO Cairo Office to support young women and men in their quest for better lives and decent work. The previous four-year DJEP partnership program resulted in over 2,300 training opportunities and the creation of 725 jobs. The new DJEP partnership, spanning from 2023 to 2028, will have an increased focus on women in the labour market, the promotion of green jobs and the inclusion of people with disabilities.

“We are very pleased to continue our strong partnership with Methanex for another five years as part of the Decent Work program supporting youth, especially women in Damietta in cooperation with the Damietta Governorate,” said Eric Oechslin, ILO Cairo Director. “This will support the ILO in implementing its human-centred agenda to develop skills of the young people to be more employable and find decent jobs.”

Methanex is a Vancouver-based, publicly traded company and is the world’s largest supplier of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol “MX” and on the NASDAQ Global Market in the United States under the trading symbol “MEOH”. Methanex can be visited online at www.methanex.com.

Methanex Media Inquiries
Nina Ng
Manager, Global Communications
+1-604-661-2600 or Toll Free: +1-800-661-8851

Methanex Investor Inquiries
Sarah Herriott
Director, Investor Relations
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FAQ

What is the partnership between Methanex Egypt and ILO about?

The partnership aims to support the Decent Jobs for Egypt's Young People (DJEP) program and create 1,000 jobs in the Damietta region.

What is the duration of the partnership?

The partnership will span from 2023 to 2028, lasting for five years.

What is the focus of the new DJEP partnership?

The new partnership will focus on women in the labour market, the promotion of green jobs, and the inclusion of people with disabilities.