DFC vows new developmental projects in Egypt being corporation’s priority country

Hagar Omran
2 Min Read

The US International Development Finance Corporation (DFC) will implement new developmental projects in Egypt, being a priority country for the corporation, CEO of DFC Adam Boehler said during a meeting with Minister of International Cooperation Rania Al-Mashat, amid her visit to the United States, according to a ministerial statement on Sunday.

Over the meeting, Al-Mashat asserted that the Egyptian government is planning a bigger role for the private sector in developmental projects in order to achieve the sustainable development goals (SDGs).

Al-Mashat also met with President and Chairperson of Export–Import Bank of the United States (US EXIM) Kimberly A. Reed where she said that the Bank will finance new private sector projects over the next period.

US EXIM is committed to supporting new projects in Egypt with $2bn in the coming years after a non-operational period, Judith Pryor, a member of the board of directors at the bank, said during the US-Egypt Future Prosperity Forum hosted by the American Chamber of Commerce in Egypt on 18 November 2019.

“EXIM Bank has financed projects in Egypt with $5bn over the past 10 years. We are interested in supporting several economic sectors in Egypt including aviation, agriculture, information and communication technology, as well as infrastructure, agribusiness, and women in businesses,” Pryor added.

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