CAIRO, March 24 (MENA) – Prime Minister Mostafa Madbouly reviewed with Vice-President of International Finance Corporation (IFC) for Africa Sérgio Pimenta the main features of an agreement concluded with IFC to provide advisory services for expanding private sector engagement in the management and operation of airports.
During a meeting with Pimenta and his accompanying delegation on Monday, Madbouly highlighted IFC’s key role in implementing the government Initial Public Offering (IPO) program, which seeks to increase private sector engagement in national economy.
Under an agreement signed with the Egyptian government in 2023, IFC is the strategic advisor for Egypt’s IPO program.
Minister of Planning, Economic Development and International Cooperation Rania Mashat, Minister of Civil Aviation Sameh al-Hefny, and Chairman of the Holding Company for Airports and Air Navigation Ayman Arab attended the meeting.
Madbouly said he is looking forward to maintaining the success of the development initiatives launched by Pimenta in Egypt.
The premier thanked the IFC vice-chief, who is on his last visit to Egypt as IFC vice-president for Africa, for his efforts to support development goals in Egypt and Africa.
Meanwhile, Pimenta thanked Mashat and Hefny for tireless efforts to finalize this agreement, under which the private sector will play a critical role in Egypt’s airport sector, which will reflect positively on the tourism industry.
He said the IFC team is committed to the timely completion of the program for engaging the private sector in running and operating Egyptian airports.
IFC is joining forces with the government to boost private sector participation in the economy – helping to increase competitiveness, create jobs, and improve living standards for Egyptians.
