Egyptian Government Signs Advisory Agreement with IFC for Airport Sector Development
Deal News | Mar 25, 2025 | Zawya
The Egyptian government has signed an advisory services agreement with the International Finance Corporation (IFC), aiming to increase private sector involvement in the country's airport sector. The agreement was formalized in the presence of Prime Minister Mostafa Madbouly and key ministers at the government headquarters in the New Administrative Capital. This collaboration builds on previous cooperation with the IFC, emphasizing the country's commitment to leveraging IFC's advisory skills to enhance public-private partnerships. The focus is on improving and expanding airport services and capacity through private investment, aligning with the national goal to foster private sector-driven economic growth. Minister Rania Al-Mashat noted the importance of stimulating the macroeconomy and attracting foreign direct investment, while Minister Sameh El-Hefny highlighted the strategic plan to identify viable airport projects for the private sector. The IFC's VP for Africa, Sergio Pimenta, remarked on the potential for these partnerships to bolster Egypt's role as a global travel and trade hub.
Sectors
- Aviation
- Public-Private Partnerships
- Investment Advisory
Geography
- Egypt – The article is focused on Egypt, discussing agreements and strategies to enhance airport infrastructure and private sector participation in the country.
- Africa – The involvement of IFC's Vice President for Africa highlights a regional strategy for infrastructure development and investment.
Industry
- Aviation – The article discusses efforts to increase private sector participation in Egypt's airport sector, emphasizing improvements and expansions in aviation infrastructure.
- Public-Private Partnerships – The agreement between Egypt and the IFC is centered around strengthening public-private partnerships, especially in the airport infrastructure development.
- Investment Advisory – The IFC's role in providing advisory services underscores the sector of investment advisory, focusing on infrastructure expansion and attracting private investments.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| International Finance Corporation (IFC) | Advisory Services Provider | Company | The IFC is the World Bank's private sector arm, involved in providing advisory services to increase private sector involvement in Egypt's airport sector. |
| Egyptian Government | Agreement Signatory | Government | The government has signed an agreement with the IFC to expand private sector participation in the airport sector. |
| Mostafa Madbouly | Prime Minister | Person | The Prime Minister of Egypt who oversaw the signing ceremony. |
| Rania Al-Mashat | Minister of Planning and Economic Development and International Cooperation | Person | A key government official involved in signing the agreement, emphasizing the alignment with Egypt's IPO programme. |
| Sameh El-Hefny | Minister of Civil Aviation | Person | Government official highlighting the strategic plan to enhance private sector participation in airport projects. |
| Sergio Pimenta | IFC Vice President for Africa | Person | IFC official emphasizing the role of public-private partnerships in economic growth. |