Egypt, IFC cooperation portfolio records $1.26B – EgyptToday

Egypt, IFC cooperation portfolio records $1.26B – EgyptToday

CAIRO – 11 November 2021: The development cooperation portfolio between Egypt and the International Finance Corporation (IFC) amounted to $1.26 billion across sectors of health, education, manufacturing, tourism, infrastructure, petroleum, finance, etc, according to Minister of International Cooperation, rania Al-Mashat. This came during Al-Mashat’s meeting with the International Finance Corporation’s (IFC) Global Head and Director of Climate Business, Vivek Pathak, as part of the Minister’s participation in the United Nations Climate Change Conference (COP 26) at Glasgow, the United Kingdom, running from October 31 to November 12. During the meeting, Al-Mashat discussed the development cooperation programs with the International Finance Corporation (IFC), one of the World Bank’s institutions, as one of Egypt’s most prominent multilateral development partners; applauding the strategic cooperation with the IFC. This cooperation enhances integration with the government’s efforts to push forward the private sector’s engagement in development, as the IFC has financed Egypt’s Commercial International Bank (CIB) through the issuance of the $100 million first green bonds in the MENA region to finance the private sector, she illustrated. Al-Mashat stated that Egypt is rapidly progressing towards achieving Egypt’s Vision 2030, which aligns with the United Nations 2030 Sustainable Development Goals (SDGs). In 2020, the Government of