Nasr, IFC CEO review future projects

International Cooperation Minister Sahar Nasr had talks on Tuesday with Philippe Le Houérou, the Chief Executive Officer the International Finance Corporation (IFC).

Nasr had the talks on the fringe of her participation in the annual World Bank meetings, leading Egypt's delegation.

The two sides discussed means of enhancing bilateral cooperation.

Only dlrs 580 million out of the dlrs 2 billion Egypt-IFC cooperation portfolio was invested, especially in the petroleum domain, in 2015-2016, she said.

The two sides reviewed several future projects as well as the challenges besetting the private sector.

Le Houérou said the IFC prioritizes infrastructure projects, especially energy, water, transportation and education ones.

The two sides discussed cooperation in establishing a sanitation treatment station as well as small and medium sized enterprises to support the economic development march, create jobs and curb poverty.