The government selected the International Finance Corporation as its strategic advisor for the government offerings program.
The government and the institution signed a support and technical advisory agreement for the Government Offerings Program (TASA) - File Photo
The Regional Director of the International Finance Corporation (IFC) announced today that the institution may invest in the government offerings program after providing consultations to the Egyptian government regarding the listed companies.
The Regional Director of the International Finance Corporation explained that the signed agreement with the Egyptian government includes the assessment of assets and listed companies.
It is worth noting that the government selected the International Finance Corporation as its strategic advisor for the government offerings program, which aims to stimulate investment efforts and enhance technical cooperation and knowledge for the management of state-owned assets.
The government and the institution signed a support and technical advisory agreement for the Government Offerings Program (TASA) last Sunday at the Cabinet headquarters, in the presence of Dr. Mostafa Madbouly, the Prime Minister.
The institution collaborates with the Egyptian government to enhance private sector participation in the economy, thus promoting competitiveness, job creation, and improving the living standards of Egyptians.
The Government Offerings Program is part of the State Ownership Policy (SOP), a new framework approved in December 2022, aimed at expanding private sector participation in development, boosting economic growth rates, and providing diverse opportunities for private sector involvement in economic activities.
Furthermore, the signed agreement with the International Finance Corporation is the first within the framework of the strategic partnership between Egypt and the World Bank Group, developed in collaboration with the Egyptian government and launched in March 2023.
The collaboration between the Egyptian government and the International Finance Corporation in the government offerings program signifies a significant step towards attracting investments and fostering economic growth.
This strategic partnership emphasizes Egypt's commitment to expanding private sector participation, promoting competitiveness, and improving living standards.
By leveraging the expertise and resources of the International Finance Corporation, Egypt aims to enhance the management of state-owned assets and create diverse opportunities for private sector engagement.
This collaborative endeavor is expected to contribute to the country's economic development and create a favorable investment climate.
