At the beginning of the meeting, Madbouly pointed out the important role played by the IFC as a strategic advisor to the government, providing technical advice on the state ownership policy document adopted by the Egyptian government to increase the private sector’s contribution to economic activity. Pimenta, IFC Vice President for Africa, indicated the continuation of consultations with the Egyptian team responsible for the government offerings program, where many workshops are being held that include discussions on reaching specific mechanisms regarding the sectors agreed upon. He said that the Prime Minister’s talk about supporting the private sector in Egypt confirms beyond any doubt that the Egyptian government is moving forward with determination in this path. Meanwhile, Pimenta praised the support Egypt recently received from global financial and development institutions through the conclusion of several agreements, stressing that this contributes to significantly relieving pressure and giving greater confidence in the Egyptian economy. The meeting witnessed the presence of Rania Al-Mashat, Egypt’s Minister of International Cooperation, Cheikh Oumar Sylla, IFC Regional Director for North Africa, Stéphane Gimbert, IFC Regional Director for Egypt, Yemen, and Djibouti, and several IFC representatives.

Source: Daily News Egypt May 12, 2024 20:13 UTC