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IFC signs agreement with Edita Food Industries to invest $30m

The minister said that they are keen on international institutions to support private sector investments because of its role in contributing to the expansion of companies, including Edita, which exports about EGP 300m and will contribute to this new expansion of the company’s exports outside Egypt.

Daily News Egypt

IFC ready to invest in Egypt’s hotel development fund

The International Finance Corporation (IFC) expressed its readiness to inject new investment into Egypt’s planned hotel development fund, the COO of the IFC, Stephanie von Friedeburg, said. Egypt’s ministry of tourism aims to establish a private equity fund targeting to restructure financially impaired hotels and other tourism establishments. During a meeting between the Egyptian Minister …

Daily News Egypt

IFC, Ministry of Petroleum help boost critical energy infrastructure in Egypt

The International Finance Corporation (IFC), a member of the World Bank Group (WBG), announced on Wednesday a joint effort with Egypt’s Ministry of Petroleum and Mineral Resources that aims to support Egypt in becoming a regional energy hub for the eastern Mediterranean region as well as improve its energy infrastructure. The IFC signed a memorandum …

Shaimaa Al-Aees

IFC invests $100m in Middle East Glass Manufacturing Company

The International Finance Corporation (IFC), a member of the World Bank Group, announced on Monday it is providing up to $100m in financing to the Middle East Glass Manufacturing Company (MEG), one of Egypt’s leading makers of glass containers. The financing is designed to support the firm’s capital expenditure programme, create new jobs, and boost …

Nihal Samir

IFC provides first loan to support Egypt’s construction industry

The International Finance Corporation (IFC), a member of the World Bank Group, is providing a $15m loan mainly in Egyptian pounds to Vinavil Egypt for Chemicals, a leading manufacturer of construction-related materials, to help the company boost production and create jobs, according to a press statement on Wednesday. The statement said that the IFC’s financing …

Shaimaa Al-Aees