Moreover, the IFC provided Egypt with advisory services worth $34 million, making Egypt one of the top countries where the IFC operates.
The International Finance Corporation (IFC) provided Egypt’s private sector with $9 billion as investments since the institution began its work in Egypt, the Minister of International Cooperation (MoIC), Rania Al-Mashat, said during IFC Day in Egypt.
Moreover, the IFC provided Egypt with advisory services worth $34 million, making Egypt one of the top countries where the IFC operates.
Al-Mashat added that the IFC’s investment during the period from 2020 to 2023 amounted to $2.5 billion.
Additionally, the volume of investments during the period from June 2023 until May 2024 alone amounted to about $900 million.
The IFC's investments span across various sectors, including infrastructure, renewable energy, financial services, agribusiness, manufacturing, startups, investment funds, and healthcare.
The IFC and Banque Du Caire signed a new $100 million financing agreement, to finance private-owned Micro, Small and Medium enterprises, including women-owned MSMEs, and finance trade, the minister added.
She pointed to the collaboration established with the World Bank, which entails a total funding of $6 billion over the upcoming three years.
The objective of this partnership is to bolster the government's reform initiatives by allocating $3 billion across different government sectors, while the IFC will contribute an additional $3 billion to support the private sector. The IFC's contribution will be provided at a rate of $1 billion per year.
