IFC to Support Egyptian Private Sector with $2bn Until 2019Source: www.export-egypt.com 8/6/2018, Location: Africa |
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Sergio Pimenta, Vice President of the International Finance Corporation for the Middle East and Africa, has voiced confidence in the Egyptian economy and Cairo's economic and social program.
The IFC is committed to supporting the private sector in Egypt with about two billion dollars until 2019, Pimenta said, noting that that figure is likely to increase with small and medium-sized enterprises. Pimenta made the remarks during a meeting with Investment Minister Sahar Nasr on the fringe of the 2018 African Caucus, currently held in the Egyptian resort city of Sharm el Sheikh. The IFC, he said, is keen on increasing its investments in Africa to contribute to growth and secure jobs for youth. Nasr, for her part, told Pimenta she is looking forward to boosting cooperation with the IFC particularly to support the energy, transport and communications sectors. She said the cooperation portfolio with the IFC amounted to 1.8 billion dollars from 2014 until this year. Nasr invited Pimenta to take part in an Africa 2018 conference, which will be held in December under the auspices of President Abdel Fattah El Sisi. |
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