Egypt: Madbouly, IFC Managing Director discusses airport management plans, private sector projects
Arab Finance: Prime Minister Mostafa Madbouly met with Makhtar Diop, Managing Director of the International Finance Corporation (IFC), and his accompanying delegation to discuss ongoing cooperation and explore new opportunities for private sector engagement, particularly in the management and operation of Egyptian airports, as per a statement.
On the sidelines of the 'Development Financing to Empower the Private Sector' conference held in Egypt's New Administrative Capital, Madbouly expressed appreciation for the strategic partnership between the Egyptian government and the IFC, particularly the corporation's advisory role in the government's asset offering program.
He praised the IFC's continued cooperation with Egypt and reaffirmed his commitment to deepening this collaboration in the period ahead.
The Prime Minister highlighted the ongoing cooperation with the IFC in offering several Egyptian airports for management and operation by internationally specialized private companies.
He emphasized the significance of this step, noting that Egypt plans to announce the first batch of airports to be offered for private management before the end of the year.
This marks the first time Egyptian airports will be operated by experienced private-sector entities with proven global track records.
Madbouly called for the swift announcement of the full plan to offer airport management contracts to accelerate the selection process for qualified companies.
For his part, Diop thanked Madbouly for his support and commended the role of the Ministry of Planning in facilitating IFC's activities in Egypt.
Diop announced that the strategy for offering Egyptian airports for private management will be revealed soon, after which tendering procedures will begin, starting with the selection of a specialized company to manage and operate Hurghada Airport.
He also expressed interest in expanding cooperation with the Egyptian government across additional sectors, including tourism, specifically medical, beach, and cultural tourism.
It is noteworthy that Diop is visiting Egypt from June 15th to 16th to reaffirm the institution's commitment to supporting the country's economic development by enhancing private sector participation.
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