Egyptian President Abdel Fattah El Sisi praised the role of the International Finance Corporation (IFC) in supporting Egypt over the past years, stressing the country's keenness to maintain this cooperation amid current regional challenges that place significant pressure on development programmes. IFC Managing Director Makhtar Diop affirmed the institution's commitment to continuing its fruitful collaboration with Egypt. During his meeting with Diop and IFC Vice President Ethiopis Tafara, President Sisi discussed opportunities for joint efforts to increase investment inflows into Egypt and enhance financing for the private sector. He emphasised the importance of offering competitive financing rates to reduce costs. He outlined Egypt's ongoing economic and structural reforms aimed at preserving financial and economic stability. Sisi also reaffirmed the state's commitment to expanding the role of the private sector in development, highlighting government efforts to build investor confidence through customs and tax incentives, streamlined procedures, and initiatives to boost exports and productive sectors. He also pointed to the promotion of public-private partnerships as a key driver of growth. The IFC chief commended Egypt's economic reform measures, noting they have strengthened investor confidence and improved the investment climate. He confirmed the continuation of joint programmes to support Egypt's economic competitiveness.
Attribution: Amwal Al Ghad English Subediting: M. S. Salama
