New Financial Strategy to Stimulate the Private Sector and Build a Strategic Partnership with the Africa Finance Corporation
Ahmed Kouchouk, Minister of Finance, emphasized that the primary priority of the government's financial and economic policies is to empower the private sector, boost its investments, and enhance its active contribution to the Egyptian economy.
Boosting Production and Expanding Goods and Services Exports
During discussions with Sameh Shenouda, Executive Director and Chief Investment Officer at the Africa Finance Corporation (AFC), on the sidelines of the IMF and World Bank Annual Meetings in Bangkok, Thailand, the Minister explained that the state is focusing on increasing production rates and expanding its export base of goods and services by offering investment incentives for projects with high economic returns.
Mobilizing Private Capital and Setting Priority Projects
Kouchouk highlighted that the AFC is a pivotal strategic partner capable of mobilizing more private capital to support development in Egypt. He expressed his anticipation for a new phase of bilateral cooperation to fund projects in partnership with the private sector, alongside preparing a joint list of priority economic activities to ensure sustainable growth.
Diversifying Funding Markets and Lowering Financing Costs
The Minister of Finance concluded by pointing out that the ministry aims to attract new segments of investors by tapping into diverse financial markets and securing more competitive terms to directly reduce financing costs.
