The International Finance Corporation (IFC) announced substantial progress in its discussions with the Egyptian Government regarding the country’s airport privatization program. During a meeting on November 24, 2024, Sergio Pimenta, IFC Vice-President for Africa, confirmed that both parties had reached agreement on most of the critical elements of the plan.
Pimenta highlighted the fruitful collaboration with Egypt’s Ministries of Civil Aviation and Planning, emphasizing that this alignment underscores a mutual commitment to advancing the privatization process. He noted that the program aims to enhance operational efficiency and attract substantial private investment into Egypt’s aviation sector, a critical gateway for trade and tourism.
The airport privatization initiative forms a cornerstone of Egypt’s broader economic reform strategy, designed to modernize infrastructure, improve service delivery, and foster a more robust role for the private sector in driving growth. By leveraging private investment and expertise, the program aims to bolster the aviation sector’s capacity to meet rising demand, improve passenger experiences, and contribute significantly to the national economy.
Egypt’s efforts to involve international financial institutions like the IFC in such transformative projects reflect its commitment to creating a favorable investment climate. This move aligns with the government’s vision of achieving sustainable development through public-private partnerships in key industries, including transportation and logistics. Further announcements regarding the implementation timeline and selected partners are anticipated in the coming months.