World Bank and Egypt Team Up on Infrastructure Financing Guarantee Mechanism

Minister of Planning and Economic Development Ahmed Rostom met with officials from the World Bank Group to discuss the launch of the Infrastructure Financing Guarantee Facility (IFGF). The facility aims to encourage private-sector participation and mobilize local-currency financing for infrastructure projects.

The meeting brought together representatives from various international financial and development institutions, including the African Development Bank, European Investment Bank, and Asian Infrastructure Investment Bank. Rostom stated that the facility is being developed in cooperation with the World Bank as part of presidential directives to encourage greater private-sector participation.

The IFGF will provide innovative, long-term local-currency financing solutions and reduce investment risks, helping ease pressure on the state budget and improve the efficiency of public spending. Rostom emphasized that his ministry is working closely with the World Bank and relevant national authorities to ensure the facility's swift activation.