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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
No clear incentives for Egypt’s MFIs to transform from NGOs into for-profit companies: IFC
2.5bn people in developing countries have little or no access to formal financial services, says IFC head of microfinance advisory services
IFC provides first loan to support Egypt’s construction industry
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 plans to increase investments in Egypt in coming FY
IFC, Daltex partner to boost opportunities for Egyptian women in agribusiness sector
IFC to invest almost $1bn to support Egypt’s private sector this FY
IFC’s investments in Egypt reach $2.9bn, including financing mobilised from other investors, between FY 2006, 2017
IFC does not yet wish to sell its stake in AlexBank
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 …
IFC to support DBACD in effort to grow microfinance in Egypt
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 …
IFC plans to launch new credit line for banks to finance SMEs in Egypt
Corporation negotiating with major companies in Egypt to increase female labour, says gender specialist
IFC loans CIB $100m
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 …