Nasr: Egypt keens on cooperation with USIDFC

CAIRO - 20 October 2019: Minister of Investment Sahar Nasr has stressed Egypt's keenness on cooperation with a newly-established United States International Development Finance Corporation (USIDFC).

The USIDFC is a US state-owned corporation meant to encourage American companies to invest in emerging markets worldwide, Nasr said during a meeting Sunday with CEO of USIDFC Adam Boehler, on the sidelines of the annual meetings of the World Bank (WB) in Washington.

It also helps create job opportunities and provides training programs for the local labor force, she added

During the meeting, the two officials mulled the outcome of the recent get-together between Prime Minister Moustafa Madbouli and Boehler.

The two sides agreed that the USIDFC would finance Egypt's public and private sector companies operating in the fields of transportation, desalination, renewable energy, and small and medium-sized enterprises (SMEs).

The minister pointed out that Egypt-USIDFC cooperation aims to promote SMEs to create more jobs.

For his part, Boehler praised President Abdel Fattah El Sisi's initiative to invest in human capital, highlighting USIDFC willingness to cooperate with Egypt in the coming period.