IFC lines up USD 100 mn for MSMEs: The International Finance Corporation (IFC) has agreed to grant Banque du Caire USD 100 mn in financing to be on-lent to micro, small, and medium enterprises, and female entrepreneurs, according to a statement. This came during day two of IFC Regional Vice President for Africa Sérgio Pimenta’s three-day visit to Egypt.

Plus a health advisory agreement: The IFC also signed an advisory services agreement with the Universal Health Ins. Authority to support the rollout of accessible healthcare services in Egypt.

More privatization chatter: The government is keen on pressing forward with its privatization and state assets sale plan, Prime Minister Moustafa Madbouly said, according to a separate cabinet statement. The government and the IFC are in constant discussions over the plan, Pimenta said during his meeting with Madbouly and a number of other state officials.

What to watch out for: The government also wants to ramp up cooperation with the IFC on projects in civil aviation, ICT, airport development, and the manufacturing of cables, cell towers, and data centers, the statement read.

Egypt has seen significant support from the IFC over the past year: The IFC has so far invested a total of USD 900 mn in Egypt during the current fiscal year.

The IFC is a key player in Egypt’s state privatization program: The IFC was tasked with giving “technical assistance and advisory support” on the state’s privatization program in an agreement inked last year. The two have been assessing an additional 50 state-owned companies to include in the privatization program to determine which sectors would be more attractive and lucrative.

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