Cairo: Deputy Prime Minister for Economic Affairs Hussein Eissa stated that relations between Egypt and the International Finance Corporation (IFC) have been built on foundations of partnership, development, and investment, as well as confidence in the Egyptian State's capabilities and potential. Speaking on behalf of Prime Minister Mostafa Madbouli at an event marking 50 years of cooperation and partnership between Egypt and the IFC, the deputy prime minister said the two sides had cooperated on around 300 projects across a range of vital sectors, achieving results that supported the Egyptian economy and strengthened development efforts.

According to State Information Service Egypt, the event was attended by a number of ministers, senior officials, and representatives of international institutions. Eissa congratulated the IFC on the occasion, saying he was pleased to participate in an event that reflects half a century of joint cooperation, shared work, and mutual support. He said the IFC and the World Bank (WBG) are strategic partners for Egypt, adding that the government is looking forward to further strengthening cooperation in the coming period, especially as the State continues to implement its economic reform program and pursue sustainable development goals.

Eissa also noted that the IFC, the WB, the International Monetary Fund (IMF), and other international institutions and organizations play a role in providing support for Egypt's economic reform efforts. The government is currently working on several key economic files, including reforming and restructuring economic authorities and state-owned companies, implementing tax reforms, and updating the state ownership policy document, said the deputy prime minister. Work on these files has been carried out over the past three months, Eissa added.

He also expressed the government's aspiration for further cooperation with the IFC through various mechanisms, including technical and financial support, to help achieve the country's economic and development targets and improve citizens' quality of life. The event was attended by Investment and Foreign Trade Minister Mohamed Farid, Industry Minister Khaled Hashem, and Deputy Foreign Minister for International Cooperation Samar el-Ahdal, along with senior officials from international institutions.

Among those attending from the IFC were Ethiopis Tafara, Vice President for Africa, Dalia Khalifa, Regional Director for Central Africa, and Cheikh-Oumar Sylla, Regional Director for North Africa and the Horn of Africa. Representing the WBG were Stephane Guimbert, Regional Director for Egypt, Yemen, and Djibouti, and Ousmane Dione, Vice President for the Middle East and North Africa region.