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The International Finance Corporation’s (IFC) current investment portfolio in Egypt’s private sector companies amounts to about USD 1.9 billion in several sectors, said Egypt’s Minister of Planning and International Cooperation, Rania Al-Mashat.
The International Finance Corporation’s (IFC) current investment portfolio in Egypt’s private sector companies amounts to about USD 1.9 billion in several sectors, said Egypt’s Minister of Planning and International Cooperation, Rania Al-Mashat. Al-Mashat added that the advisory services portfolio amounts to USD 24.5 million for private sector development, governance, women’s empowerment, wholesale and retail trade, and renewable energy advisory services.
Minister Al-Mashat discussed with Emmanuel Nyirinkindi, IFC’s Vice President of Cross-Cutting Solutions, ways of cooperation in supporting Egyptian government programs to enhance private sector participation. The meeting also addressed the follow-up on the technical support efforts provided by the institution to the water desalination sector, within the framework of the partnership signed last year between the IFC, the European Bank for Reconstruction and Development, and the Egyptian Sovereign Fund.
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This partnership aims to support collaboration between Egypt’s public and private sectors, providing technical support and consultations to develop four seawater desalination plants to produce 335,000 cubic meters of clean water daily, expected to increase to 650,000 cubic meters in Matrouh Governorate and the North Coast region. These efforts align with governmental initiatives to ensure clean water provision and achieve the Sustainable Development Goals by 2030.
