CAIRO, June 15 (MENA) - Prime Minister Mostafa Madbouly on Sunday expressed his appreciation for the strategic partnership between the Egyptian government and the International Finance Corporation (IFC), particularly in the state IPO program, where the IFC serves as the government’s strategic advisor.

During his meeting with Managing Director of the IFC Makhtar Diop, Madbouli praised the Corporation's sustained cooperation with Egypt over the past years and affirmed the government’s commitment to continuing this collaboration in the period ahead.

Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat attended the meeting, held on the sidelines of the "Development Finance to Foster Private Sector-Led Growth & Jobs" conference, taking place in Egypt’s New Administrative Capital.

Madbouly commended the fruitful collaboration with the IFC on offering several Egyptian airports for private management and operation to leading international firms. He cited the IFC’s successful global track record in facilitating airport privatization, expressing anticipation for the imminent announcement of the Egyptian airport privatization plan, which would pave the way for launching the offering and selecting qualified operators.

The premier revealed that the first Egyptian airport to be offered for private management is expected to be announced before the end of this year, marking a significant milestone as, for the first time, Egyptian airports will be managed and operated by specialized, experienced international companies.

For his part, Makhtar Diop thanked Madbouly for his ongoing support of the IFC’s work in Egypt across various areas. He also extended his gratitude to Minister Al-Mashat for her continuous backing of the IFC team in Egypt.

Diop noted that the strategy for offering airports for private management will be announced soon, with the process for selecting a private-sector operator for Hurghada International Airport to follow shortly thereafter.

He also expressed his interest in expanding cooperation with the Egyptian government, particularly in the tourism sector, including segments such as medical tourism, beach tourism, cultural tourism, and others.

Meanwhile, Mashat affirmed that the premier closely follows the progress of the IFC’s operations and files in Egypt. She praised the professionalism of the IFC’s team and emphasized the importance of the ongoing partnership, especially in the airport management and operation file.

She added that the upcoming phase will witness broad coordination with the IFC team to prepare a comprehensive local and international promotional plan for the airport privatization strategy. This campaign will highlight successful global models of airport management and operation in partnership with the private sector, according to her. (MENA)

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