Egypt, MIGA discuss boosting investment guarantees to attract private financing

Egypt’s Minister of Planning and Economic Development Rania Al-Mashat met Saturday with Hiroshi Matano, Executive Vice President of the Multilateral Investment Guarantee Agency (MIGA), part of the World Bank Group, on the sidelines of the Bank’s Annual Meetings in Washington.

Al-Mashat reaffirmed Egypt’s commitment to deepening cooperation with MIGA to expand private sector financing through investment guarantees that help attract foreign direct investment into priority sectors.

She stressed the importance of linking the World Bank Group’s unified guarantee platform with the European Union’s €1.8 billion Investment Guarantee Mechanism to maximise the Egyptian private sector’s access to innovative financing tools.

MIGA’s active portfolio in Egypt stands at about $709 million, covering 15 projects across energy, infrastructure, manufacturing, and renewable energy since the agency began operations in 2012. Al-Mashat also underscored the value of the World Bank’s guarantee platform launched in July 2024, which integrates the guarantees of MIGA, IFC, and IBRD to provide streamlined and innovative financing options for both public and private projects.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser