IFC planning to Establish Joint Projects with Govt, Public Sectors in Egypt

Mounir Fakhry Abdel Nour, Minister of Industry and Foreign Trade has reviewed the possibility of establishing joint projects between International Finance Corporation (IFC) and the private sectors, in Egypt, especially regarding the alternative energy projects for the industrial sector and projects for the Development of logistics services.

The Minister said the government is keen on supporting all the projects which targeted providing energy resources for the industrial projects.

This came during a session of talks with Brian Tate, head of IFC’s department of ecology and social control in Europe and Asia, Brian Tait, where the two sides reviewed the opportunities and projects for future cooperation between the Egyptian government ,the private sector and the IFC in particular with regard to providing financing programs for energy efficiency projects and renewable energy projects and logistics services.

Tait has asserted that the keenness of IFC to establish joint projects with the government and private sectors in Egypt within the coming period, especially in the renewable energy sectors, energy efficiency and logistic services projects.

Tait added that the IFC is targeting to establish many joint projects with the Egyptian government and private sector such as infrastructure sector, noting that the projects of renewable energy production is considered to be  IFC’ priority within the coming phase.