Egypt’s Minister of Planning and Economic Development, Ahmed Rostom, and Minister of Finance Ahmed Kouchouk held a meeting with a delegation from the World Bank Group to discuss ways to boost private investment in the nation’s infrastructure sector.
The delegation comprised representatives from the International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC), with participation from the African Development Bank (AfDB).
During the meeting, the World Bank delegation presented a proposal to establish an Infrastructure Finance Guarantee Facility (IFGF) aimed at addressing financing challenges for long-term infrastructure projects in local currency.
The proposed mechanism would help reduce reliance on direct sovereign guarantees, ease pressure on the state budget, and support better management of financial commitments. It is also expected to attract private investment into key sectors such as renewable energy and water.
The two ministers expressed strong support for the proposal, noting that it aligns with Egypt’s strategy to strengthen fiscal sustainability and expand private sector participation in development projects.
The meeting concluded with an agreement on a roadmap that includes consultations with government agencies, financial institutions, and private sector developers to ensure the facility is designed in line with Egypt’s market needs and future infrastructure projects.
