Washington: Egyptian Minister of Planning and Economic Development Ahmed Rostom expressed appreciation for the role played by the International Finance Corporation (IFC) in supporting and empowering the private sector in Egypt, particularly in priority sectors including renewable energy, green hydrogen, mining, infrastructure, and healthcare. The remarks came during a series of meetings held on the first day of his visit to Washington on the sidelines of the Spring Meetings of the World Bank and the International Monetary Fund (IMF).
According to State Information Service Egypt, during talks with IFC Managing Director Makhtar Diop, Rostom said the Egyptian economy has shown resilience despite geopolitical tensions in the region thanks to economic and monetary reforms implemented in recent years, most notably the adoption of a flexible exchange rate system. He reaffirmed the government's commitment to continuing reforms that support inclusive and sustainable growth and improve resource management.
For his part, Diop praised the partnership with Egypt and reaffirmed the IFC's commitment to supporting national development efforts by providing financing and technical expertise to the Egyptian private sector, describing Egypt as one of the promising markets in the region. Rostom also expressed appreciation for the March 2026 visit of the World Bank president to Egypt and stressed keenness to build on its outcomes to strengthen cooperation, particularly in healthcare, water resources management, tourism, food security, and agriculture.
In a separate meeting with World Bank Vice President for the Middle East and North Africa Ousmane Dione, he discussed prospects for expanding technical support to Egypt in innovation, artificial intelligence, the Suez Canal Economic Zone, energy efficiency, ports modernization, and industrial localization. The minister also praised the role of the Multilateral Investment Guarantee Agency (MIGA) in supporting the investment environment in Egypt through guarantees that have helped boost investor confidence, especially in strategic sectors such as renewable energy and banking.
During talks with MIGA Managing Director Tsutomu Yamamoto, Rostom stressed that empowering the private sector remains a top government priority as the main driver of economic growth. He said Egypt is working to create an attractive investment environment through tax and customs incentives, digital transformation, and legislative reform.