International Finance Corporation

Egypt, IFC discuss expansion of development finance to increase private sector participation

Mon, 30 Jan 2023 - 04:45 GMT

The Minister pointed out the importance of expanding the scope of cooperation between the IFC and private sector companies in Egypt through credit lines to banks to promote the development of small, medium and micro enterprises (SMEs), in addition to the availability of green bonds, to increase investments in various fields.

IFC could finance 500MW wind farm in Egypt by $83M

Mon, 07 Nov 2022 - 06:42 GMT

The financing is pending approval and would consist of a $75 million loan and interest rate swaps worth around $8 million, according to the IFC.

Egypt, IFC cooperation portfolio records $1.26B

Thu, 11 Nov 2021 - 12:05 GMT

This came during Al-Mashat’s meeting with the International Finance Corporation’s (IFC) Global Head and Director of Climate Business, Vivek Pathak, as part of the Minister’s participation in the United Nations Climate Change Conference (COP 26) at Glasgow, the United Kingdom, running from October 31 to November 12.

IFC invests in Egypt’s 1st private sector green bond by $100M

Tue, 03 Aug 2021 - 02:17 GMT

IFC added in a statement that this investment is to help unlock finance for climate-smart projects, reduce greenhouse gas emissions, and support the country's transition to a greener economy.

Integrated Diagnostics Company signs $45M financing agreement with IFC

Tue, 25 May 2021 - 03:41 GMT

The loan extends to 8 years and will be allocated to finance the company's growth plans across current markets and to enter new markets with the aim of expanding the provision of diagnostic services in emerging markets with high growth rates in addition to strengthening its current presence in Egypt, Jordan and Nigeria, and Sudan.

Mashat participates in IFC’s webinar ‘Egypt of Tomorrow: Improving Healthcare through Private Sector Investments’

Fri, 02 Apr 2021 - 11:53 GMT

In the International Finance Corporation’s (IFC) virtual webinar titled “Egypt of Tomorrow: Improving Healthcare through Private Sector Investments”, the Minister of International Cooperation Dr. Rania A. Al-Mashat gave an opening speech on the role of the private sector in healthcare services development on March 30.

IFC, Egyptian Fintech Association partner to support entrepreneurship

Thu, 25 Mar 2021 - 10:22 GMT

This partnership focuses on enhancing the entrepreneurship environment in Egypt, pushing towards the 17 United Nations Sustainable Development Goals (SDGs).

IFC, ALEXBank partners to support Egyptian farmers access to solar irrigation system

Tue, 16 Mar 2021 - 03:07 GMT

IFC noted that through the partnership, both parties will design new financial products to enable farmers - most of whom may lack direct access to electricity grid - to purchase and install solar powered irrigation pumps.

IFC finances Pasabahce Egypt with $30M to support exports, sustainable glass production, jobs

Tue, 16 Feb 2021 - 03:34 GMT

IFC clarified in a statement that the objective of the funding is to help the company boost exports, introduce cleaner production practices, and create jobs.

IFC inks deal to close gender gap in private sector

Wed, 16 Dec 2020 - 02:02 GMT

The deal is part of greater efforts aimed to help Egyptian private companies to deal with the negative impacts of the COVID-19 pandemic, giving attention to creating equal opportunities for women at work.

IFC to invest $10M in electricity meter manufacturer "Globaltronics"

Sun, 21 Jun 2020 - 02:39 GMT

These smart meters will also help rationalize electricity use, enabling consumers to keep track of their energy consumption, the IFC added.

Egypt discusses private sector role with int’l financial institutions

Thu, 30 Apr 2020 - 01:52 GMT

The meeting was attended by officials from World Bank (WB), IFC, European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD) and African Development Bank (AfDB).

IFC invests $20M in fund focuses on Egypt, North Africa

Mon, 13 Apr 2020 - 01:07 GMT

the Fund, SPE AIF I is managed by SPE Capital Partners and will focus mainly on Egypt, Morocco and Tunisia.

IFC finances project in Egypt’s industrial sector by $2.3M

Tue, 30 Apr 2019 - 11:28 GMT

This came during the extended meeting held by the Minister with IFC delegation led by WalidLabadi, Director of the Foundation's Cairo office for Egypt, Yemen and Libya.

EETC, IFC to set up 700 megawatt solar plant west of Nile

Thu, 18 Apr 2019 - 03:59 GMT

This is the first project to be carried out under the Auction system, she added.

IFC willing to expand activities in Egypt

Fri, 12 Apr 2019 - 10:14 GMT

Nasr underscored the IFC's great role in supporting several mega projects in Egypt, noting that the corporation's investments in Egypt hit a record high in 2017-2018 fiscal year after reaching $1.2 billion.

IFC invests up to $100M in MEGM to boost manufacturing, create jobs

Tue, 02 Apr 2019 - 01:01 GMT

IFC clarified in a statement that this finance is to support the firm’s capital expenditure program, create new jobs, and boost Egypt’s manufacturing sector.

IFC chief praises steps taken by Egypt to increase investments

Sun, 09 Dec 2018 - 03:53 GMT

International Finance Corporation (IFC) CEO Philippe Le Houérou praised on Sunday economic decisions taken by the Egyptian government to increase investments.

Egypt’s ranking jumps 8 places on Doing Business 2019

Thu, 01 Nov 2018 - 09:54 GMT

This is the largest number of reforms implemented in Egypt in one year during the past 10 years.

Backing Egypt’s Private Sector

Mon, 20 Aug 2018 - 10:30 GMT

The International Finance Corporation’s Country Manager Walid Labadi chats with Egypt Today about their future investments in the country, key issues facing the private sector and the sectors they see most potential in.