Latest in Highlight
Following the recent Investment for Africa Forum held in Egypt on November 22nd and 23rd, we share highlights of IFC’s approach to private sector development in one of the Middle East’s largest economies.
“We’ve invested $400m in Egypt over 2019 till now,” says Labadi
The minister said that they are keen on international institutions to support private sector investments because of its role in contributing to the expansion of companies, including Edita, which exports about EGP 300m and will contribute to this new expansion of the company’s exports outside Egypt.
Operational phase of company’s new factory starts in Morocco in 2020
Sources at the ministry of electricity told Daily News Egypt that the IFC will set the controls and the mode of presenting the offers and their assessment, given that the auction system will be implemented in Egypt for the first time.
The two entities to implement joint programme to increase the competitiveness of Egyptian product in local and foreign markets
WBG’s new president praises country’s economic reforms
The International Finance Corporation (IFC) expressed its readiness to inject new investment into Egypt’s planned hotel development fund, the COO of the IFC, Stephanie von Friedeburg, said. Egypt’s ministry of tourism aims to establish a private equity fund targeting to restructure financially impaired hotels and other tourism establishments. During a meeting between the Egyptian Minister …
The International Finance Corporation (IFC), a member of the World Bank Group (WBG), announced on Wednesday a joint effort with Egypt’s Ministry of Petroleum and Mineral Resources that aims to support Egypt in becoming a regional energy hub for the eastern Mediterranean region as well as improve its energy infrastructure. The IFC signed a memorandum …
The International Finance Corporation (IFC), a member of the World Bank Group, announced on Monday it is providing up to $100m in financing to the Middle East Glass Manufacturing Company (MEG), one of Egypt’s leading makers of glass containers. The financing is designed to support the firm’s capital expenditure programme, create new jobs, and boost …
The International Finance Corporation (IFC), a World Bank Group member, invested close to $200m in the Egyptian market over the last eight months, the IFC Country Manager for Egypt, Libya, and Yemen, Walid Labadi, told Daily News Egypt (DNE). The IFC chose Egypt earlier as a model for its investments in Middle East and Africa. …
IFC, partners ring bell for women’s empowerment in Egypt
Egyptian women represent 14% of all companies’ board members in country, says IFC
Start-ups will get chance to present their unique ideas to calibre stakeholders, investors
The centre, in which IFC has taken a minority interest, targets to invest in, manage, and resolve up to $1bn of NPLs and associated legal disputes.
The IFC noted that SMEs contribute 38% of total employment and 33% of Egypt’s GDP, but often struggle to access financing. Women-owned SMEs, in particular, have an estimated credit demand of $283m and $246m of potential deposits.
Corporation aims to invest up to $1bn in FY 2018/19, says Labadi
Under agreement, MIIC and IFC will select 100 promising entrepreneurs from across Africa to connect them with business leaders, international investors
Minister Sahar Nasr to sign new agreement with IFC on Thursday
Country ranked 100 out of 137 in 2017/18 edition, 119 in 2014/15, 107 in 2012/13
IFC said finance is helping to create jobs, improve local infrastructure, boost economic growth
The IFC has been assisting the FRA in formulating draft guidelines for green bonds that will now undergo a consultation process with market stakeholders by providing comparative studies from international markets
2.5bn people in developing countries have little or no access to formal financial services, says IFC head of microfinance advisory services
The International Finance Corporation (IFC), a member of the World Bank Group, is providing a $15m loan mainly in Egyptian pounds to Vinavil Egypt for Chemicals, a leading manufacturer of construction-related materials, to help the company boost production and create jobs, according to a press statement on Wednesday. The statement said that the IFC’s financing …
IFC, Daltex partner to boost opportunities for Egyptian women in agribusiness sector
IFC’s investments in Egypt reach $2.9bn, including financing mobilised from other investors, between FY 2006, 2017
International Finance Corporation (IFC), the World Bank Group’s investment arm, has shown no interest in selling its 9.25% stake in the Bank of Alexandria (AlexBank), a member of the Intesa Sanpaolo Group, up until now. Walid Labadi, IFC country manager for Egypt, Libya, and Yemen, said that the IFC will announce its intention to sell …
The International Finance Corporation (IFC) will support the Dakahlya Businessmen Association for Community Development (DBACD) as it scales up its lending operations and caters to borrowers who seek larger loans, according to a press statement issued on Sunday. The IFC, a member of the World Bank Group, said it will provide advisory services to a …
Corporation negotiating with major companies in Egypt to increase female labour, says gender specialist
The International Finance Corporation (IFC) signed an agreement on Tuesday with the Commercial International Bank (CIB) to fund it with $100m. This funding is considered the first supporting loan provided by the IFC to a local bank. This came after the recent regulations approved by the Central Bank of Egypt (CBE) allowing international finance institutions …