Planning and Economic Development Minister Ahmed Rostom held a high-level meeting with World Bank Group officials and representatives of international financial and development institutions to discuss the final steps for launching the Infrastructure Financing Guarantee Facility (IFGF), aimed at encouraging private-sector participation and mobilising local-currency financing for infrastructure projects.
The meeting brought together representatives of the African Development Bank, European Investment Bank, European Bank for Reconstruction and Development, Asian Infrastructure Investment Bank, Japan International Co-operation Agency (JICA), British International Investment (BII), French Development Agency, World Bank Group, International Finance Corporation (IFC), German Development Bank and the Swiss State Secretariat for Economic Affairs.
Rostom said the facility was being developed in co-operation with the World Bank as part of presidential directives and Egypt’s broader structural economic reform efforts to encourage greater private-sector participation and turn public-private partnerships into practical projects.
He said the facility would provide innovative, long-term local-currency financing solutions and reduce investment risks, helping ease pressure on the state budget and improve the efficiency of public spending.
Rostom added that his ministry was working closely with the World Bank and relevant national authorities to ensure the facility was activated swiftly. He said the focus would be on vital productive and service sectors, particularly renewable energy, water treatment and desalination plants, and modern transport projects, in line with the objectives of Egypt Vision 2030 and efforts to boost growth and employment.
The meeting saw strong interest from participating international financial and development institutions, with representatives expressing their readiness to join the new facility and contribute the guarantees and financing solutions needed for its success.
The World Bank team presented a detailed overview of the project’s implementation status, the stages for launching the facility and the timetable for its operational start.
World Bank representatives said the facility reflected the growing strategic partnership with the Egyptian government, stressing the Bank’s commitment to sharing international expertise and best practices to reduce financing risks and providing technical and advisory support to attract major private-sector companies to invest in Egypt’s infrastructure.
