Egypt’s International Co-operation Minister Rania el Mashat asserted Sunday Egypt has greater partnership relations and co-operation with the International Finance Corporation.
Speaking at a press conference, in the presence of Prime Minister Mostafa Madbouli and Managing Director of IFC Makhtar Diop, Mashat thanked the Corporation for partnership and co-operation and the help of the Private Sector in Egypt.
The minister said we are meeting today to sign an agreement to offer consults, known as TSA systems.
The deal is the first ever and comes in accordance with the new Country Partnership Framework to boost competition and support the state’s reform agenda and the help of small and medium-sized projects and the participation of the Private Sector, according to her.
The IFC has the largest projects in Egypt with a value of about seven billion dollars in accordance with the partnership, said Mashat.
She added another two billion dollars will be added to finance more projects in the country in the coming five years.
The agreement will focus on increasing the capital and running the state-owned assets along with offering technical support for development, added Mashat.
