IFC plans expanded cooperation with Egypt in digital transformation, green economy

WASHINGTON – 15 April 2026: The International Finance Corporation (IFC) said it will expand cooperation with Egypt, extending to new projects in digital transformation, green economy and clean energy.

Managing Director of the IFC Makhtar Diop said expanding cooperation with Egypt will help achieve sustainable development and enhance investment prospects in the Egyptian market.

Diop made the remarks during a meeting with Minister of Foreign Affairs Badr Abdelatty in Washington on Tuesday, on the sidelines of the 2026 Spring Meetings of the International Monetary Fund and the World Bank Group.

Abdelatty expressed his aspiration to strengthen existing cooperation with the IFC and increase the institution's investments in Egypt. This, he noted, would contribute to stimulating local and foreign investment flows amidst the challenges facing the global economy.

The foreign minister also highlighted the growing role of the Egyptian private sector in implementing development projects in several African countries, particularly in infrastructure, electricity, and new and renewable energy.

He emphasized the aspiration to strengthen trilateral cooperation with the IFC to support development efforts in African countries, thereby enhancing their ability to address economic and developmental challenges.

 

The meeting addressed the repercussions of the military escalation in the region on the global economy.

Abdelatty emphasized that the Egyptian economy has demonstrated resilience thanks to the structural and monetary reforms implemented by the government in recent years, including the adoption of a flexible exchange rate system.

Attending the meeting, Deputy Prime Minister for Economic Affairs Hussein Eissa affirmed the Egyptian government’s priority of supporting and empowering the private sector.

He noted Egypt’s commitment to implementing the State Ownership Policy Document and the Initial Public Offering (IPO) programme.

He highlighted the contribution of these efforts to increasing private sector investments during the first quarter of the 2025/2026 fiscal year.