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The International Finance Corporation (IFC) has joined forces with the Egyptian government to boost the private sector participation in the economy – helping to increase competitiveness, create jobs, and improve living standards for Egyptians.
The International Finance Corporation (IFC) has joined forces with the Egyptian government to boost the private sector participation in the economy – helping to increase competitiveness, create jobs, and improve living standards for Egyptians.
IFC was appointed as the strategic advisor for the government’s Asset Monetization Program, which will focus on harnessing private capital and know-how to manage state-owned assets. The programme is part of the government’s State Ownership Policy (SOP), a new framework rolled out in December 2022 aiming to empower the country’s private sector across sectors to spur economic growth.
This is the first agreement within the World Bank Group Egypt Country Partnership Framework, jointly developed with the Government of Egypt and launched in March 2023.
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As per the Transaction Advisory Services Agreement (TASA) signed in the presence of Prime Minister of Egypt Mostafa Madbouly, the IFC will provide the government with technical assistance and advisory support to develop a strategy and implementation plan, help structure and prepare assets for sale – including improving corporate governance – and ultimately implement selected approved transactions.
