IFC to expand cooperation with Egypt in digital transformation and green economy

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