IFC vice president for Africa to visit Egypt this week

Daily News Egypt
3 Min Read

Sérgio Pimenta, IFC’s Vice President for Africa, will visit Egypt from 20 to 21 March to highlight IFC’s commitment to support Egypt’s economic development through expanding the private sector’s participation in the economy.

During his visit, Pimenta will meet with key government officials, including the Minister of International Cooperation, Rania A. Al-Mashat; the Minister of Planning and Economic Development Hala H. Elsaid; the Governor of the Central Bank of Egypt, Hassan Abdalla; and the CEO of the Sovereign Fund of Egypt, Ayman Soliman. He will also meet with donors, private sector and other development partners.

Pimenta will discuss how to increase the contribution of Egypt’s private sector to the economy in close alignment with Egypt’s State Ownership Policy finalized in December 2022, and how IFC can help the government expand private sector participation.

IFC has a growing portfolio of nearly $1.5 billion in investment projects, and $32 million in advisory programs in Egypt which support the private sector in key areas such as access to finance, fintech, climate finance, manufacturing, infrastructure and renewable energy, healthcare, and gender.

Pimenta will have several touchpoints for media availability, including signing with the Government of Egypt and the Sovereign Fund of Egypt

Pimenta, along with several senior officials from the Government of Egypt and the European Bank for Reconstruction and Development (EBRD), will announce a partnership to boost the supply of safe drinking water through public-private partnerships in Egypt. Interested journalists should email Sarah Moussa (details below) for the date and time of the signing.

Pimenta, along with Rania A. Al-Mashat, Egyptian Minister of International Cooperation, will deliver opening remarks during IFC’s “Banking on Egypt” event, highlighting IFC’s partnership with financial sector stakeholders to advance private sector development. The opening session, open to media, will be on Tuesday, March 21st at 9 a.m. at the Four Seasons Nile Plaza.

Building on IFC’s $100m investment in CIB’s green bond program, IFC and CIB will sign a new agreement to further support CIB’s climate-related strategy. The agreement will be signed in the presence of Rania Al-Mashat, Minister of International Cooperation, on Tuesday.

Building on IFC’s two successful rounds of funding with Mediterranean Capital, IFC will announce a third investment to support the growth of mid-size enterprises in North, West, and Central Africa. The agreement will be signed in the presence of Rania A. Al-Mashat, Minister of International Cooperation, on Tuesday.

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