Creating more Jobs in Egypt
IFC, a member of the World Bank Group, has ramped up investments in Egypt with a focus on improving the country’s infrastructure, supporting manufacturing companies, and improving access to finance for small and medium enterprises (SMEs). During fiscal year 2016, which ended on June 30, IFC invested a total of $352 million in seven projects across Egypt’s banking, manufacturing, infrastructure, and hospitality sectors. Between fiscal years 2011 and 2016, IFC’s investments in the country totaled close to $1.5 billion, including financing mobilized from other investors. IFC’s investments have been designed to support Egypt’s private sector, create jobs, and spur growth, all considered vital in a country that has struggled economically in recent years.