The International Finance Corporation (IFC) has pumped development funds of $421m into Egypt’s private sector during 2020, according to Egypt’s Minister of International Cooperation Rania Al-Mashat. The financing has gone towards supporting the efforts undertaken by the private sector in various development projects. During the virtual meeting, the two sides also discussed ongoing partnerships, future projects, and ways to enhance the IFC’s role in supporting Egypt’s private sector. In the same context, Pimenta touched on the importance of the joint coordination cooperation platform launched by the Ministry of International Cooperation. The IFC is a member of the World Bank Group, and is responsible for private sector development.
