Presidential Spokesperson Ambassador Mohamed El-Shenawy announced that the President lauded the International Finance Corporation's (IFC) cooperation with Egypt. The President underscored Egypt's commitment to continuing this partnership, especially given current regional challenges impacting development programs. The IFC CEO reciprocated this sentiment, affirming the organization's dedication to fruitful collaboration with Egypt.
The meeting, he added, also explored avenues to enhance investment
flows and provide financing for Egypt's private sector. The President
underscored the importance of competitive financing rates for cost reduction.
He pointed out that Egypt is actively implementing policies and reforms to
ensure financial and economic stability, alongside boosting the private
sector's involvement in development. To foster private sector confidence, the
government is introducing various tax and customs facilities to cut expenses
and simplify processes. Furthermore, initiatives are underway to increase
exports, develop key economic activities, and expand public-private partnership
projects.
El-Shenawy further explained that the IFC CEO commended Egypt's economic reforms, noting their positive impact on investor confidence and the investment climate. He affirmed the continuation of joint programs to strengthen cooperation and support the Egyptian economy's competitiveness.