Cairo: Abdel Fattah El Sisi, President of the Arab Republic of Egypt, met with Makhtar Diop, Managing Director of the International Finance Corporation (IFC). The meeting underscored Egypt's ongoing commitment to fostering collaboration with the IFC amidst challenging regional circumstances impacting development initiatives.
According to Bahrain News Agency, President El Sisi highlighted the significance of maintaining cooperative ties with the IFC, particularly given the complex regional challenges that threaten development programmes. The discussions with the IFC focused on strategies to boost investment inflows into Egypt and facilitate financing for the private sector.
Presidential Spokesman Mohamed El Shennawy reported that the dialogue centered on identifying joint efforts to enhance investment potential and secure competitive financing rates to alleviate costs. The emphasis was on ensuring that financing solutions are accessible at rates that would not burden the private sector.
The IFC Managing Director praised Egypt's economic reform efforts and reiterated the commitment to sustaining joint initiatives aimed at bolstering cooperation and enhancing the competitiveness of Egypt's economy.