Ahmed Rostom, Minister of Planning and Economic Development, met with Ethiopis Tafara, International Finance Corporation (IFC) Vice President for Africa, to discuss practical steps to strengthen bilateral cooperation and review progress on activating Egypt’s infrastructure financing and guarantee mechanism.
The meeting was attended by Ousmane Dione, Vice President of the World Bank for North Africa, alongside senior officials from the World Bank Group. Discussions focused on supporting private sector participation and advancing sustainable development in line with the goals of Egypt Vision 2030.
At the start of the meeting, Rostom highlighted the IFC’s role as a longstanding strategic development partner to Egypt over nearly five decades, noting that the institution has contributed to financing more than 300 private sector projects across the country. He also emphasised ongoing joint efforts to design specialised programmes aimed at increasing the private sector’s contribution to economic activity.
Talks included detailed discussions on coordination between the Egyptian government and the World Bank Group to study and implement the infrastructure financing and guarantee mechanism. The initiative is intended to mobilise local currency financing and develop flexible long-term funding instruments that help lower capital costs for national infrastructure projects.
Rostom said the government remains committed to implementing its economic reform programme, adding that improving citizens’ quality of life remains the central objective of public investment and development spending.
He explained that the proposed guarantee mechanism could become a key tool for addressing financing needs in sectors including energy, transport, and urban development, while preserving fiscal space and easing pressure on the state budget through greater reliance on local currency financing. The approach is also expected to create more attractive investment channels for domestic and foreign capital.
For his part, Tafara reaffirmed the IFC’s commitment to expanding investment in Egypt’s private sector, particularly in sectors capable of generating sustainable employment opportunities and supporting inclusive economic growth.
He added that the Egyptian government’s recent measures on fiscal discipline and structural reforms have contributed to improving the business environment and positioning Egypt among the IFC’s priority markets for expanding financing operations.
The meeting forms part of a broader series of consultations led by the Ministry of Planning and Economic Development to advance the mechanism’s implementation. Recent discussions have included senior government officials, major Egyptian banks, international financial institutions, and infrastructure companies, with the aim of developing a joint framework to operationalise the initiative.
