President Sisi affirms keenness on furthering cooperation with IFC
CAIRO, June 15 (MENA) – President Abdel Fattah al-Sisi on Sunday emphasized Egypt's keenness on strengthening collaboration with the International Finance Corporation (IFC), particularly in light of the ongoing regional developments that pose formidable challenges for development programs.
President Sisi made the remarks during a meeting with Managing Director of the International Finance Corporation (IFC) Makhtar Diop, who agreed with the president on the importance of boosting cooperation and stressed the IFC's commitment to maintaining fruitful cooperation with Egypt.
The meeting was attended by Vice President and General Counsel for IFC Ethiopis Tafara and Minister of Planning, Economic Development, and International Cooperation Rania al Mashat.
During the meeting, President Sisi praised IFC's cooperative relations with Egypt over the past years, according to Presidential Spokesman Mohamed el Shennawy.
The meeting explored opportunities for joint efforts to enhance investment flows into Egypt and to facilitate financing for the private sector.
President Sisi underscored the importance of providing competitive financing rates to reduce costs. He noted that Egypt is adopting a series of policies as well as structural and economic reforms aimed at maintaining financial and economic stability.
The President affirmed that the state is committed to boosting the private sector's role in economic activity and development and is working to bolster private sector confidence in the economy by offering numerous tax and customs facilities to reduce costs and streamline procedures.
Additionally, the government is launching initiatives aimed at increasing exports, developing productive and service activities, and expanding public-private partnership projects.
For his pasrt, IFC's managing director lauded Egypt's economic reform measures, which enhance investor confidence and improve the investment climate.
He asserted that joint programs between both parties will continue to further advance cooperation and support the competitiveness of the Egyptian economy. (MENA)
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