Egypt's Prime Minister, Mostafa Madbouly, met today at the government headquarters in the New Administrative Capital with Sergio Pimenta, Vice President of the International Finance Corporation (IFC) for Africa, and Sheikh Omar Sila, IFC’s Regional Director for North Africa.

The meeting aimed to review the latest developments in the government’s airport privatization program and discuss the next steps in this initiative. The meeting was also attended by Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and Sameh Hefny, Minister of Civil Aviation, along with several officials from the IFC.

At the beginning of the meeting, Prime Minister Madbouly emphasized the government's commitment to advancing its privatization program. He noted that the government is closely monitoring developments across various sectors, including airports, where Egypt is collaborating with the IFC as the strategic advisor to implement the privatization plan.

Madbouly stated that the purpose of the meeting was to follow up on the ongoing discussions between the Ministries of Civil Aviation and Planning, along with IFC officials, regarding the airport privatization plan.

The Prime Minister expressed optimism about announcing positive news soon regarding the airport privatization initiative in partnership with the IFC, highlighting the significant positive impact it will have on the market.

For his part, Sergio Pimenta, the IFC Vice President for Africa, confirmed substantial progress in the consultations with the Egyptian government concerning the airport privatization plan. He mentioned that most of the plan’s key components have been agreed upon.

Pimenta also commended the strong support provided by the Prime Minister and relevant ministers for the successful implementation of the plan, stressing their determination to expedite its execution.

In another part of the discussion, Pimenta highlighted the IFC’s ongoing efforts to support the private sector in Egypt. He emphasized the corporation's commitment to increasing its portfolio in several key areas, including tourism, sustainability, small and medium-sized enterprises (SMEs), financial inclusion, energy efficiency, water conservation, and reducing carbon emissions.