CAIRO – Egypt has signed a new advisory services agreement with the International Finance Corporation (IFC) to enhance private sector involvement in airport development, marking a major step toward modernizing the country’s aviation infrastructure.
Prime Minister Mostafa Madbouly emphasized that the agreement aligns with Egypt’s state asset monetization program and ongoing collaboration with the IFC. The initiative aims to improve airport services, expand capacity, and attract both local and international investment.
“This is part of a broader strategy to strengthen public-private partnerships in key development sectors,” Madbouly stated, adding that the IFC will provide technical guidance to enhance Egypt’s investment climate.
Driving Economic Growth and Tourism
Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, highlighted that the partnership builds on the State Ownership Policy Document launched in June 2023, reinforcing Egypt’s commitment to private sector-led growth.
She noted that the initiative comes at a pivotal moment, as private sector investments accounted for 63% of total investments in the first quarter of the current fiscal year. Additionally, tourism is at record levels, driven by strong demand in the transportation and logistics sectors.
The upcoming opening of the Grand Egyptian Museum is expected to further boost tourism and airport traffic, creating additional opportunities for investment in Egypt’s aviation infrastructure.
This collaboration with the IFC is a significant step toward modernizing Egypt’s airports, supporting economic expansion, and positioning the country as a key global travel hub.
