Egyptian Prime Minister Mostafa Madbouly convened on Sunday with Sérgio Pimenta, International Finance Corporation (IFC) Regional Vice President for Africa, and Cheick-Oumar Sylla, IFC Regional Director for North Africa, to assess the progress of the airport sector privatization programme and outline the next steps. The meeting took place at the government headquarters in the New Administrative Capital.
Opening the meeting, the Prime Minister reaffirmed the government’s commitment to advancing the state-owned enterprises offering programme. He noted that regular updates are conducted to monitor progress across various sectors, with the airport sector being a key focus. The Egyptian government is working closely with the IFC as a strategic advisor to execute the privatization programme.
Madbouly stated that the meeting aimed to review ongoing consultations on the airport privatization plan, which is being developed in collaboration with the Ministries of Civil Aviation and Planning, Economic Development, and International Cooperation, alongside the IFC. He expressed optimism about soon sharing positive developments regarding the plan, emphasizing its potential to significantly boost market confidence.
Sérgio Pimenta highlighted the substantial progress achieved in the consultations with the Egyptian government on the airport privatization programme, noting that most elements of the plan have been finalized. He commended the strong support from the Prime Minister and relevant ministers, underscoring their commitment to expediting the plan’s implementation.
Pimenta also provided an overview of the IFC’s broader role in supporting Egypt’s private sector. He reaffirmed the IFC’s commitment to expanding its portfolio in Egypt, focusing on areas such as tourism, sustainability, small and medium-sized enterprises, financial inclusion, energy and water efficiency, and carbon emission reduction.
The meeting underscored the collaborative efforts between the Egyptian government and the IFC to drive privatization initiatives, aiming to enhance the efficiency and attractiveness of Egypt’s airport sector while supporting broader economic development goals.
Attendees included Minister of Planning and Economic Development and Minister of International Cooperation Rania Al-Mashat, Minister of Civil Aviation Sameh El-Hefny, and several IFC officials.
