Arab Finance: Egypt discussed new innovative tools to finance infrastructure projects in the country with the World Bank and the African Development Bank (AfDB), according to a statement.

This came during an extensive meeting held by Minister of Planning and Economic Development Ahmed Rostom and Minister of Finance Ahmed Kouchouk with a delegation from the World Bank Group, including representatives from the International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC), along with representatives from the AfDB.

During the meeting, the World Bank presented a detailed proposal on the establishment of the Infrastructure Finance Guarantee Facility (IFGF).

The IFGF aims to address long-term financing challenges in local currency and reduce reliance on direct sovereign guarantees. This will alleviate pressure on the public budget and attract private capital to vital sectors, including renewable energy and water.

Both ministers expressed their support for the initiative, as it aligns with the government's objectives towards strengthening fiscal sustainability and expanding private-sector participation in comprehensive development.

Accordingly, all relevant parties, including government entities, financial institutions, and private-sector developers, will agree on a roadmap to ensure the facility’s design aligns with the requirements of the Egyptian market and the needs of future infrastructure projects.

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