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Thursday, 10 January 2019

IFC aims to invest USD 5 bn in Egypt over the next 5 years

INVESTMENT WATCH- Meanwhile, the World Bank’s International Finance Corporation (IFC) aims to invest USD 5 bn in Egypt over the next 5 years, at an average rate of USD 1 bn per annum, IFC MENA Regional Director Mouayed Makhlouf said, according to Al Mal. The investments are expected to target the private sector, infrastructure development, and SMEs. The IFC’s recent investments in Egypt include a EGP 1.2 bn commitment to e-commerce infrastructure in September 2018, as well as a USD 1 mn investment in Vezeeta in December 2018.

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