IFC, Egypt sign consulting agreement for Abu Tartour industrial port

Egypt’s Ministry of Finance signed Saturday a financial consulting agreement with the International Finance Corporation (IFC) to develop Abu Tartour mining port, 5km south of Safaga port in Red Sea.

On the sidelines of the IMF and World Bank annual meetings in Washington, Egypt’s Deputy Finance Minister for Monetary Policy Ahmed Kojak has signed the agreement with Mouayed Makhlouf, IFC’s Regional Director for Middle East and North Africa, in the presence of Minister of International Cooperation Sahar Nasr.

Egyptian government has embarked on a major programme to expand and improve its public infrastructure through Public-Private Partnerships (PPP). As part of this programme, the PPP Central Unit of the Ministry of Finance (PPPCU) – in coordination with the Ministry of Foreign Trade and Industry – plans to develop the Abu Tartour Mining Port (ATP) as the first mining and industrial port in Egypt through private sector participation.