Bangkok:Egypt's Planning Minister, Ahmed Rostom, emphasized the country's commitment to empowering the private sector as a crucial driver of economic growth and sustainable job creation.

According to State Information Service Egypt, Rostom conveyed these priorities during intensive meetings with representatives of international institutions on the fourth day of the 81st Annual Meetings of the World Bank Group and the International Monetary Fund in Bangkok. He introduced Egypt's Infrastructure Finance Guarantee Facility (IFGF), which aims to stimulate private sector participation by providing financial guarantees for nationally prioritized projects.

The facility targets essential sectors such as seawater desalination, wastewater recycling, green transport, distributed renewable energy, and industrial zone infrastructure development. These initiatives are designed to reduce carbon emissions while enhancing the competitiveness of investors.

Rostom also highlighted recent structural and economic reforms by the government intended to bolster macroeconomic stability and improve public finances. Despite regional geopolitical challenges, Egypt achieved a 5.1% growth rate in the last fiscal year, and the outlook for the current fiscal year remains positive, with rising foreign exchange reserves and growth in foreign assets.

International officials praised the IFGF and expressed interest in participating and supporting infrastructure projects in Egypt.