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IFC exits AlexBank citing completion of objectives
Exit is designed to revolve capital, and to use it for similar investment, says Walid Labadi
IFC launches 3-year programme to boost Egypt’s female employment
Participation of women is macro-critical, it is no longer lip service, says Al-Mashat
IFC provides CIB Egypt $100m loan to support businesses disrupted by COVID-19
IFC’s commitments in Egypt since 2005 has reached $4bn
IFC invests $10m in Egypt’s Globaltronics to enhance energy efficiency
Project is part of World Bank Group’s strategy to help Egypt optimise its overall domestic electricity consumption, says Globaltronics Chairperson
IFC invests $20m in new private equity fund to boost MENA growth
The fund, named SPE AIF I, is managed by SPE Capital Partners and will focus mainly on Egypt, Morocco, and Tunisia. Access to equity is especially constrained in these countries, because of macro-economic and political challenges.
EBRD, IFC co-support healthcare sector in Egypt, Morocco
$125m under “Commodity Murabaha” to improve hospitals services’ quality
IFC to help Tanmeyah in building capacity, boosting outreach
The findings will inform the second phase of the project, during which IFC will help Tanmeyah implement the key recommendations based on its priorities.
Faster Implementation of reforms is key to unleashing private sector investments, boosting sustainable growth and jobs: IFC’s Walid Labadi
State should encourage public-private partnerships in desalination, wastewater removal, renewable energy, says IFC Country Manager in Egypt, Libya, and Yemen
Private Sector-Led Development in Egypt: IFC
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.
IFC to announce new healthcare deals with Egypt before year-end
“We’ve invested $400m in Egypt over 2019 till now,” says Labadi
IFC signs agreement with Edita Food Industries to invest $30m
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.
Edita signs loan contract with IFC for $20m
Operational phase of company’s new factory starts in Morocco in 2020
Solar power plants’ auction scheme to be ready in August
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.
Trade Ministry, IFC’s delegation discuss development programmes to support industry, trade sectors
The two entities to implement joint programme to increase the competitiveness of Egyptian product in local and foreign markets
IFC to expand its activities in Egypt’s transportation, renewable energy, entrepreneurship
WBG’s new president praises country’s economic reforms
IFC ready to invest in Egypt’s hotel development fund
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 …
IFC, Ministry of Petroleum help boost critical energy infrastructure in Egypt
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 …
IFC invests $100m in Middle East Glass Manufacturing Company
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 …
IFC invests close to $200m in Egypt, eyes opportunities in infrastructure, manufacturing sectors
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 targets to reach 50% women participation on its board within 3 to 5 years
IFC, partners ring bell for women’s empowerment in Egypt
47% of companies in Egypt have female board members: IFC
Egyptian women represent 14% of all companies’ board members in country, says IFC
IFC, British embassy launch StartEgypt Forum
Start-ups will get chance to present their unique ideas to calibre stakeholders, investors
IFC, Omni Bridgeway to create first NPL resolution platform
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.
IFC, Banque Misr sign Egypt’s first women banking agreement to support female entrepreneurs
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.
IFC plans to increase local currency financing in Egypt
Corporation aims to invest up to $1bn in FY 2018/19, says Labadi
MIIC, IFC sign agreement to strengthen Egypt’s position as regional hub for African entrepreneurs
Under agreement, MIIC and IFC will select 100 promising entrepreneurs from across Africa to connect them with business leaders, international investors
IFC Investments in Middle East, North Africa hit new record in FY 2018
Minister Sahar Nasr to sign new agreement with IFC on Thursday
Egypt seizes best ranking at Global Competitiveness Index over past five years
Country ranked 100 out of 137 in 2017/18 edition, 119 in 2014/15, 107 in 2012/13
$1.2bn IFC investments in Egypt in FY 2018
IFC said finance is helping to create jobs, improve local infrastructure, boost economic growth
IFC, Financial Regulatory Authority begin consultations on green bond guidelines in Egypt
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