IFC marks 50 years in Egypt with $10bn mobilized across 300 projects

The International Finance Corporation (IFC) is celebrating five decades of partnership with Egypt’s private sector, during which it has invested and mobilized more than $10bn across nearly 300 projects since 1976. According to IFC, these investments have spanned critical sectors including energy, agribusiness, manufacturing, healthcare, tourism, and financial markets. The focus has consistently been on strengthening private sector capacity, creating jobs, and driving inclusive economic growth. This engagement forms part of a broader World Bank Group portfolio in Egypt, which has exceeded $40bn since 1959. Alongside IFC’s direct mobilization of private capital, the World Bank has provided policy and project financing, while MIGA has offered investment guarantees to support job-creating companies and financial institutions. Over the years, IFC-backed projects have included landmark developments such as the Benban Solar Park in renewable energy and the Damietta Alliance Container Terminal in infrastructure. In agribusiness, companies like Wadi Group have expanded significantly with IFC support. Financial inclusion has also advanced markedly, rising from 27% in 2016 to 76.3% in 2025. Initiatives such as ZAAT, developed with Banque Misr, have expanded access to finance for women entrepreneurs and small businesses. To mark the anniversary, IFC signed a $40m financing agreement with Nile Sugar Company to support sugar beet cultivation in Minya. The project aims to reduce Egypt’s reliance on imports while improving financing access for smallholder farmers. Egyptian officials and IFC representatives described the partnership as a cornerstone of development, emphasizing its role in scaling private investment and supporting job creation. Looking ahead, cooperation will continue to prioritize infrastructure, energy, agribusiness, healthcare, tourism, and manufacturing as Egypt advances its economic transformation.  The post IFC marks 50 years in Egypt with $10bn mobilized across 300 projects first appeared on Dailynewsegypt.