Egypt: The IFC plans to invest between $1.2 billion and $2 billion
April 13, 2015
The IFC plans to invest between $1.2 billion and $2 billion in Egypt between now and 2019.
The investment could possibly be spent on ports, logistics, and energy projects, the IFC’s Director of MENA, Mouayed Mkhlouf, told Reuters in an interview.
The Suez Canal is tagged for some of the funds as the government is constructing another waterway to accelerate trade flows through the canal. Besides infrastructure and energy projects, IFC is working with Masdar and ACWA Power on up to four renewable energy projects in Egypt, Makhlouf also told Reuters.
IFC plans to contribute between $300 million and $500 million per year over the next four years in different sectors, but mainly toward infrastructure and energy, Makhlouf said.