IFC supports Egypt’s plans to expand private sector role in airport management
Prime Minister Moustafa Madbouly met on Sunday with Emmanuel Nyirinkindi, International Finance Corporation (IFC) Vice President of Cross-Cutting Solutions, to discuss increasing the private sector’s involvement in airport management in Egypt.
The meeting, held at the new administrative capital, was attended by Rania Al-Mashat, Minister of Planning, International Cooperation and Economic Development, and Sameh El-Hefny, Minister of Civil Aviation.
Prime Minister Madbouly emphasised the strong co-operation between Egypt and the World Bank Group, including the IFC. He noted the IFC’s significant investment portfolio in Egypt, which exceeds $2 billion.
The government and the IFC are working together on various sectors, including education, health, energy, infrastructure, and industry. These sectors are key priorities in Egypt’s Vision 2030 and the government’s three-year program.
The Prime Minister highlighted the government’s ongoing collaboration with the IFC on the state IPO programme. The IFC is serving as the government’s strategic advisor for this process.
He emphasised the government’s commitment to expanding the private sector’s role in airport management. He believes that this will increase capacity and attract more tourists to Egypt.
Meanwhile, Nyirinkindi presented the IFC’s feasibility study on the optimal model for airport management and the timeline for increasing private sector involvement. He expressed gratitude for the Egyptian government’s support for the IFC’s work.
Nerinckx explained the IFC’s role in stimulating investment, enhancing technical cooperation, and supporting the government’s efforts to involve the private sector in airport management. He emphasized the IFC’s commitment to helping Egypt attract foreign investment and improve the management of state-owned assets.
The increased role of the private sector in airport management remains subject to regulatory approval and the fulfillment of certain conditions.
Attribution: The Egyptian Cabinet
