Minister of Planning and Economic Development Ahmed Rostom said on Thursday that Egypt looks forward to leveraging Swedfund’s extensive expertise to support the Infrastructure Financing Guarantee Facility (IFGF) and mobilise additional funding for the private sector, contributing to the country’s sustainable development objectives.
Rostom made the remarks during a meeting with Maria Håkansson, Chief Executive Officer of Swedfund, Sweden’s development finance institution, on the third day of his participation in the Annual Meetings of the International Monetary Fund (IMF) and the World Bank (WB), held in Bangkok, Thailand.
The meeting focused on strengthening economic co-operation between Egypt and Sweden, with particular emphasis on the IFGF, an initiative being developed in partnership with the WB to expand infrastructure financing opportunities and encourage greater private sector participation.
Rostom highlighted the strength of Egyptian-Swedish economic relations, pointing to the presence of Swedish companies investing in Egypt, the development partnerships supported by Swedfund and the longstanding co-operation between the two countries.
The minister outlined the key features of the IFGF, explaining that the initiative forms part of the government’s broader efforts to develop innovative financing instruments, diversify funding sources and facilitate access to long-term financing in local currency.
He noted that the mechanism aims to support infrastructure investment, ease pressure on the state budget and create favourable conditions for increased private sector participation in targeted economic sectors.
Rostom also highlighted Swedfund’s extensive experience in providing long-term financing to private sector enterprises across various sectors in Egypt.
