IFC executive president in Egypt Wednesday

Philippe Le Houerou, the CEO of the International Finance Corporation, will arrive here on Wednesday to mull fostering bilateral cooperation, according to a statement by the International Cooperation Ministry on Monday.

Le Houerou will meet with International Cooperation Minister and Egypt's Governor to WB and IFC Sahar Nasr along with other number of government officials.

From 2015 to 2016, Egypt used 580 million dollars of its two-billion-dollar portfolio with the IFC covering the period from 2015 to 2019. 

In statements, Nasr said talks will cover challenges besetting Egypt as well as a number of future projects between Egypt and the IFC in the water, energy and renewable energy, education and infrastructure domains.

She lauded cooperation between Egypt and the IFC, one of the financial institutions affiliated with the World bank, saying cooperation between the two sides will increase within the coming period in the domains of setting up drainage treatment stations and small and medium-sized projects.

Source: MENA