IFC reopens Egypt hub, seeks stronger investment ties

Egypt’s Minister of Planning and Economic Development Rania Al Mashat and the Managing Director of the International Finance Corporation (IFC) Makhtar Diop officially reopened the IFC’s newly upgraded office in Cairo, in a step signalling deepening cooperation to empower the private sector.

Following the inauguration, Al Mashat and Diop held a bilateral meeting to explore future avenues of collaboration aligned with Egypt’s national priorities, including private sector empowerment, sustainable growth, and boosting the country’s economic competitiveness amid global and regional challenges.

Discussions covered progress in existing joint projects and opportunities to expand technical assistance and institutional investment programmes.

The meeting explored private sector engagement in healthcare, advisory support for the state IPO programme, desalination initiatives, and public-private partnerships in airport infrastructure. It also reviewed collaboration under Egypt’s green investment platform, NWFE (Nexus of Water, Food, and Energy).

Al Mashat noted that Egypt’s longstanding relationship with the IFC has resulted in more than $10 billion in investments and financing for the Egyptian private sector, reflecting continued confidence in the country’s economic prospects.
Subediting: M. S. Salama