The initiative aims to bolster Egypt’s private sector in executing projects in water, wastewater treatment, and reducing water losses in networks.
Al Mashat presented the country’s recent economic and structural reforms, emphasizing the government's efforts to strengthen macroeconomic stability, enhance the business environment, and build a competitive, investment-friendly economy.
Banga praised Egypt’s ongoing economic reforms and the creation of state-led investment platforms, emphasizing Egypt’s position as a leading partner for the World Bank, highlighting initiatives like the “NWFE” platform, which promotes climate investments in adaptation and mitigation efforts, and the “Hafiz” platform that fosters private sector participation.
She noted that the capital increase would enable the IFC to expand its financing to private sector companies.
The international cooperation portfolio to support the human development sector amounts to about $7 billion, through concessional financing, technical support, grants, and debt swaps.