The International Finance Corporation (IFC), a member of the World Bank Group (WBG), will announce new deals with Egypt in the field of healthcare before the end of the year, Walid Labadi, acting regional director for Middle East & North Africa at IFC, told Daily News Egypt on the sidelines of the event hosted by the American Chamber of Commerce in Egypt (AmCham) last week, entitled “US-Egypt Future Prosperity Forum”.
“We think that the Egyptian market includes great opportunities in healthcare. We are also assessing new opportunities in the sector of manufacturing,” Labadi mentioned, expecting the IFC to have a great year in Egypt in 2020.
IFC has already invested $400m in Egypt in 2019, Labadi added, noting that IFC will continue to support Egyptian entrepreneurs.
“We are doing a lot with entrepreneurs. We invested in Visita last year. We have a successful investment with Flat6Labs company and we’ll continue to work with them,” Labadi mentioned.
IFC announced investing $1m in Vezeeta in December 2018. IFC CEO Philippe Le Houérou signed the agreement with Vezeeta’s CEO Amir Barsoum in a ceremony in Sharm El Sheikh during Africa 2018 Forum.