During a meeting with Africa Finance Corporation Executive Director and Chief Investment Officer Sameh Shenouda at the IMF–World Bank meetings in Bangkok, Egyptian Finance Minister Ahmed Kouchouk discussed plans to deepen cooperation on financing private sector projects. Egypt and the corporation intend to identify priority economic activities that can support sustainable growth and increase production and exports of goods and services. The proposed cooperation would seek to mobilize private capital from a broader range of investors and financing markets on more competitive terms, with the aim of reducing financing costs. Kouchouk placed the initiative within Egypt’s fiscal and economic policy focus on increasing private sector investment and its contribution to the economy.
Egypt's Ministry of Finance discusses expanded Africa Finance Corporation cooperation to mobilize private capital
Egyptian Finance Minister Ahmed Kouchouk discussed deeper cooperation with Africa Finance Corporation to mobilize private capital for Egyptian projects. The parties intend to identify priority economic activities and seek financing from a broader range of investors on more competitive terms.