The International Finance Corporation marked five decades of operations in Egypt at an event held at the Giza Pyramids on May 19, 2026, reaffirming support for the country’s economic reforms and private sector growth.
The International Finance Corporation and the World Bank Group hosted the anniversary gathering to highlight their long-term partnership with Egypt. IFC Vice President for Africa Ethiopis Tafara noted that the first investment in the country was a $5 million allocation to a ceramics factory outside Cairo in 1976. He identified export competitiveness, climate-smart investments and regional integration as priorities for the next phase of development.
During the event, IFC announced it has invested and mobilized more than $10 billion across nearly 300 projects in sectors including energy, agribusiness and financial markets since 1976. A new $40 million financing agreement was signed with Nile Sugar Company to support sugar beet cultivation in Minya and reduce import reliance.
Egyptian officials outlined ongoing reforms. Minister of Investment and Foreign Trade Mohamed Farid said the government is shortening the time for capital increases and unifying operational licensing across agencies. Minister of Industry Khaled Hashem stated the aim to rank among the global top five in seven industrial sectors by 2035 through supply chain integration.
The gathering also served as a farewell for retiring IFC division director Cheikh Oumar Sylla, who led the asset monetisation programme. He said, “Egypt had the vision. IFC has the tools. And together, we built something that will outlast both of us.”
