Minister of Planning and Economic Development Ahmed Rostom met with a World Bank team to discuss progress in the implementation of the Infrastructure Finance Guarantee Facility, designed to support priority projects with long‑term local currency financing while easing pressure on the state budget.
Minister Rostom stressed the importance of direct coordination between technical sectors of the ministry and beneficiary agencies to build on past institutional successes. He highlighted the electricity sector as a successful local model of innovative financing and international partnerships, noting its structural transformation through joint initiatives.
The minister explained that consultations are underway with relevant ministries to finalise the list of infrastructure projects to be included, stressing that this financing model will reduce external borrowing, attract private capital, and strengthen Egypt’s development efforts. He added that the roadmap is based on balanced risk management to ensure operational efficiency and project success before scaling up to national development programmes.
The meeting reviewed the proposed framework for the guarantee mechanism, focusing on governance, transparency, and regulatory standards to ensure efficient implementation. Both sides agreed that the facility’s main objectives are to establish effective partnerships between Egypt, the World Bank, and development partners, reduce reliance on sovereign guarantees, and encourage private sector participation in line with Egypt’s Vision 2030.
Rostom outlined the guiding principles for the mechanism, including sound governance, transparency, limited government participation, and stronger roles for development partners. He said project selection will be based primarily on economic viability, while ensuring diversity across infrastructure sectors.
