Cairo: Prime Minister Mostafa Madbouli emphasized the ongoing monitoring of cooperative efforts with the International Finance Corporation (IFC) for Africa Affairs, expressing eagerness for the swift completion of all procedures related to the tender for Hurghada International Airport.

According to State Information Service Egypt, Madbouli met with IFC Vice President Ethiopis Tafara to discuss the privatization of airport operations. He highlighted Hurghada International Airport as the pilot project for this initiative and urged for an expedited completion of the tender procedures. This initiative aims to upgrade Egyptian airport management to global standards by incorporating private sector expertise.

Madbouli stressed that Deputy Prime Minister for Economic Affairs, Hussein Issa, will spearhead efforts to accelerate private sector involvement in civil aviation. In response, Tafara praised the strategic relationship with Egypt, pinpointing airport management and SME support as key focus areas. He affirmed the IFC's commitment to aiding Egypt's economic and developmental goals through these impactful sectors.

Issa outlined the government IPO program as a crucial component of the "State Ownership Policy Document," aimed at enhancing the private sector's GDP contribution. He also noted that the IFC's role as a strategic advisor ensures transparency and high governance standards, thus increasing the attractiveness of Egyptian assets to foreign direct investment.