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IFC to expand cooperation with Egypt in digital transformation and green economy
via Egypt Today1 min read
The International Finance Corporation IFC announced plans to expand its cooperation with Egypt, focusing on new projects in digital transformation, green economy, and clean energy. IFC Managing Director Makhtar Diop stated that this expanded cooperation aims to achieve sustainable development and enhance investment prospects in the Egyptian market. This announcement came during a meeting between Diop and Minister of Foreign Affairs Badr Abdelatty in Washington, held on the sidelines of the 2026 Spring Meetings of the International Monetary Fund and the World Bank Group. Abdelatty expressed Egypt's desire to strengthen existing cooperation with the IFC and increase its investments to stimulate local and foreign investment flows amid global economic challenges. He also highlighted the Egyptian private sector's growing role in development projects across several African countries, particularly in infrastructure, electricity, and new and renewable energy, and emphasized strengthening trilateral cooperation with the IFC to support African development efforts. The meeting also addressed the impact of regional military escalation on the global economy. Abdelatty noted the Egyptian economy's resilience due to recent structural and monetary reforms, including a flexible exchange rate system. Deputy Prime Minister for Economic Affairs Hussein Eissa, also present, affirmed the government's priority of supporting the private sector and its commitment to implementing the State Ownership P
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President Abdel Fattah El-Sisi stated on Tuesday that Gulf security is an integral part of Egyptian national security, expressing Cairo's full solidarity with Manama amidst regional tensions. These remarks were made during his visit to Bahrain, where he met with King Hamad bin Isa Al Khalifa after a visit to Qatar. The Spokesperson for the Egyptian Presidency, Ambassador Mohamed El-Shennawy, reported that Sisi underscored Egypt鈥檚 unwavering support for Bahrain鈥檚 stability and condemned any unjustified attacks against the kingdom as a violation of international law and a dangerous regional escalation. He reiterated Egypt's rejection of attempts to compromise the security of Bahrain, Gulf Cooperation Council nations, or the broader Arab region, affirming Cairo's stance with its partners to protect their sovereignty. Sisi also praised King Hamad's leadership in maintaining regional stability and detailed Egypt's diplomatic efforts to de-escalate tensions peacefully. King Hamad welcomed El-Sisi and appreciated Egypt's continuous support for Gulf security. Both leaders emphasized the need for close coordination and joint action to address shared challenges and restore stability.
President Abdel Fattah El-Sisi visited Lusail Palace in Doha to extend his condolences to the Amir of Qatar, Sheikh Tamim bin Hamad Al Thani, following the passing of the Father Amir, Sheikh Hamad bin Khalifa Al Thani. President El-Sisi expressed Egypt's solidarity with Qatar during this period of mourning and acknowledged the late Father Amir's contributions to Qatar's development. The Spokesman for the Egyptian Presidency, Ambassador Mohamed El-Shennawy, confirmed President El-Sisi's message of support. Sheikh Tamim bin Hamad Al Thani thanked President El-Sisi for his visit and emphasized the strong historical ties between their nations, expressing a desire to enhance bilateral cooperation.
Egypt's Minister of Agriculture Alaa Farouk met with AbdulHakim Elwaer, the FAO's Regional Representative for the Near East and North Africa, to discuss strengthening cooperation, particularly FAO's support for the government's "Productive Village Revival" initiative. This initiative aims to transform Egyptian villages from consumer communities into productive economic hubs, promoting sustainable rural development. Key aspects include enhancing youth and rural women's skills, creating jobs, increasing household incomes, and establishing a unified brand for village products. The plan also focuses on diversifying rural income, improving environmental sustainability through waste recycling, expanding contract farming and mechanization, supporting livestock development, promoting silk and beekeeping industries, and strengthening agricultural cooperatives. Elwaer affirmed FAO's readiness to provide technical expertise and support for the initiative's long-term success.