CAIRO - 24 November 2024: The International Finance Corporation (IFC) has confirmed significant progress in the discussions with the Egyptian government regarding the country’s airport privatization program. In a meeting held on November 24, 2024, Sergio Pimenta, Vice President for Africa at the IFC, stated that the two parties have reached consensus on most key aspects of the plan.
Pimenta emphasized that the ongoing collaboration with the Egyptian government, particularly with the Ministries of Civil Aviation and Planning, has led to a shared understanding of the privatization process for Egypt's airports. This marks a crucial step toward the successful implementation of the plan, which aims to boost efficiency and attract private investment into the sector.
He also praised the strong support and commitment from Prime Minister Mostafa Madbouly and the relevant ministers, noting that their efforts to fast-track the program are pivotal to its success.
The privatization initiative is seen as a major component of Egypt’s broader strategy to enhance infrastructure and foster private sector involvement in key industries, with the potential to have a positive impact on the country's economic development.
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