IFC Managing Director visits Egypt to boost private sector engagement

Updated 6/15/2025 9:50:00 AM

Arab Finance: Managing Director of the International Finance Corporation (IFC) Makhtar Diop will visit Egypt from June 15th to 16th to reaffirm the institution’s commitment to supporting the country’s economic development by enhancing private sector participation, as per an emailed press release.

Diop will be joined by Ethiopis Tafara, IFC’s newly-appointed Vice President for Africa, who will be visiting Egypt for the first time in his new role.

The visit will include high-level meetings with key government officials, including Egyptian President Abdel Fattah El-Sisi, Prime Minister Mostafa Madbouly, and members of the Egyptian cabinet.

Discussions will center on expanding economic cooperation and exploring new opportunities aligned with Egypt’s Asset Monetization Program.

In addition to engagements with government officials, Diop is scheduled to meet with private sector leaders from various industries to explore potential partnerships in areas such as gender inclusion, SME financing, and entrepreneurship.

IFC, a member of the World Bank Group, has been active in Egypt for nearly five decades.

Since the start of its operations in the country, the institution has invested and mobilized close to $10 billion in development projects. It also maintains an advisory portfolio of $25 million.

IFC’s support for Egypt’s private sector spans several key areas, including fintech, climate finance, manufacturing, infrastructure, renewable energy, healthcare, and gender-focused initiatives.