Egypt: Mashat - IFC Pumped Investments Worth U.S.$4 Billion in Egypt Last Decade

The International Finance Corporation (IFC) has pumped 421 million dollars for the private sector in Egypt last year, International Cooperation Minister Rania el Mashat said.

At a virtual meeting with IFC's Managing Director Makhtar Diop on Wednesday 5/5/2021, Mashat said that the IFC's total investments in Egypt amounted to 4 billion dollars during the last decade.

The strategic relations between Egypt and the IFC contributed to promoting economic development in Egypt and improving the living conditions of Egyptians through supporting the growth of the private sector and providing development financing, the minister said.

Mashat pointed out that 2021 will be the year of strengthening partnership between the government and the private sector in light of the national development agenda.

Diop, for his part, voiced the IFC's keenness on promoting prospects for cooperation with the private sector in Egypt in light of the structural reform plans that the government is seeking to implement.

More From: Egypt Online

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