The Egyptian President Abdel Fattah El-Sisi met today with Makhtar Diop, CEO of the International Finance Corporation (IFC), to discuss expanding financial cooperation, boosting private sector investment, and enhancing Egypt’s global competitiveness.
The high-level meeting, held in Cairo, was also attended by IFC Vice President Ethiopis Tafara and Dr. Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development, and International Cooperation.
Deepening Strategic Financial Partnerships
According to a statement by Presidential Spokesperson Ambassador Mohamed El-Shenawy, President El-Sisi praised the IFC’s sustained partnership with Egypt over recent years, highlighting the importance of continuing collaboration in light of current regional instability—a reference to ongoing geopolitical tensions that have placed added strain on regional development programs.
“The regional context presents significant challenges to development,” El-Sisi stated, “which makes partnerships like that with the IFC all the more crucial.”
IFC CEO Makhtar Diop reaffirmed the Corporation’s commitment to Egypt, emphasizing the mutual success of past programs and pledging to deepen efforts in support of Egypt’s economic reform agenda.
Private Sector Access and Competitive Financing
Discussions centered on mobilizing competitive financing for Egypt’s private sector, with President El-Sisi urging that financial assistance be offered at competitive rates to reduce overall economic costs. He also reiterated Egypt’s push to increase private sector participation across productive and service sectors.
“We are implementing structural and economic reforms to ensure fiscal and economic stability,” El-Sisi said, “and we are committed to strengthening the private sector’s role through tax and customs incentives, procedural reforms, and robust public-private partnership (PPP) frameworks.”
Egypt’s government has also launched initiatives to boost exports and stimulate productive sectors, positioning itself as a gateway for investment into Africa and the broader Middle East.
IFC Applauds Egypt’s Economic Reforms
In response, Diop commended Egypt’s economic transformation efforts, highlighting the country’s structural reforms as key to improving investor confidence and enhancing the overall investment climate.
He confirmed the IFC’s intent to continue its support of Egypt’s development model through joint programs aimed at improving competitiveness, expanding access to capital, and fostering inclusive growth.
This high-level engagement underscores the critical role multilateral finance institutions like the IFC play in helping countries navigate complex economic transitions while promoting private sector-led growth.
With economic resilience now a strategic imperative, Egypt’s partnership with global institutions is expected to become increasingly vital in balancing fiscal discipline with inclusive development goals.
