Egypt marked 50 years of cooperation with the International Finance Corporation on Thursday, with officials highlighting nearly $10 billion in IFC investments across key sectors of the Egyptian economy since the partnership began in 1975.
Deputy Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates Samar El-Ahdal said during a celebration ceremony that IFC financing had supported a broad range of development projects in Egypt, including energy, infrastructure, manufacturing, financial services and agriculture.
El-Ahdal praised the corporation’s continued support through investments, technical assistance and advisory services, describing the relationship as a strategic partnership that has contributed to advancing Egypt’s development agenda.
She said the government’s ongoing economic reform programme places the private sector at the centre of sustainable economic growth, adding that the IFC has played a significant role in supporting this direction.
El-Ahdal pointed to several successful cooperation models between Egypt and the IFC, particularly the government’s asset monetisation programme, where the corporation helped expand private sector participation and attract strategic investments.
The deputy minister also expressed appreciation for the longstanding partnership and voiced hope for continued cooperation to support sustainable development and shared prosperity in the coming years.
The IFC, a member of the World Bank Group focused on private sector development, has been one of Egypt’s key international development partners over the past five decades.
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