Egypt has signed an advisory services agreement with the International Finance Corporation (IFC) to enhance private sector participation in the country's airport sector. Prime Minister Mostafa Madbouly stated that the agreement builds on ongoing collaboration with IFC to support the government's IPO programme. He emphasised that IFC's advisory services will facilitate greater private sector involvement in airport operations, improve services, and expand the capacity of Egypt's airports. The agreement is part of a broader strategy to attract private investment and strengthen public-private partnerships in key sectors. Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, noted that this initiative aligns with the State Ownership Policy Document, launched in June 2023, which promotes private sector-led economic growth. She highlighted that Egypt is implementing structural reforms and financial measures to create a more attractive investment climate, aiming to restore the private sector's role in driving economic development. Al-Mashat also pointed out that private sector investments now account for 63 per cent of total investments, with inbound tourism reaching record levels in 2024. She added that the upcoming inauguration of the Grand Egyptian Museum is expected to further boost airport traffic, creating new opportunities for private sector participation in airport operations. Similarly, Minister of Civil Aviation Sameh El-Hefny, stated that under the agreement, the Civil Aviation Ministry will work to identify viable airport projects for public-private partnerships aimed at modernising infrastructure and improving services. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
