Egypt’s Ministry of Planning and Economic Development held high-level consultations with the World Bank Group to study a new mechanism for financing and guaranteeing infrastructure projects.
The meeting was opened by Minister Ahmed Rostom in the presence of Deputy Prime Minister for Economic Affairs Hussein Issa, Minister of Electricity Mahmoud Essmat, and senior officials from housing, foreign affairs, and finance. From the World Bank side, Yira J. Mascaró, Regional Director for Finance, Competitiveness and Innovation, and Saad Sabra, IFC Country Manager, attended along with other partners.
Deputy Prime Minister Hussein Issa said the new guarantee system will allow Egypt to diversify funding sources in both local and foreign currencies, improving efficiency in project financing. He stressed the importance of expanding infrastructure in energy and agriculture, while encouraging private sector investment in renewable energy.
Minister Mahmoud Essmat highlighted that diversifying energy sources and boosting renewable energy is a national priority under Egypt’s Vision 2030.
Minister Ahmed Rostom explained that the mechanism will provide long-term financing tools and encourage public–private partnerships, helping reduce project costs and risks. He noted ongoing talks with the World Bank to combine local and foreign currency structures and apply guarantees to infrastructure projects.
World Bank officials confirmed their commitment to supporting Egypt’s economic reforms and infrastructure expansion. IFC’s Saad Sabra said the initiative will also attract other international financiers and investors, easing the burden on the state budget.
The consultations mark a step toward launching Egypt’s Infrastructure Financing Guarantee Facility, aimed at mobilizing capital and enabling more projects in energy, housing, and other vital sectors.
