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IFC signs agreement to advise Egypt's gov't IPO programme

Egypt has signed an agreement with the International Financial Corporation (IFC), the financial arm of the World Bank.
19.06.23 | Source: Ahram Online

According to Prime Minister Mostafa Madbouly, speaking at a press conference with IFC Managing Director Makhtar Diop and a group of ministers on Sunday, the IFC will collaborate with the Egyptian cabinet asset evaluation committee to implement the government's initial public offering (IPO) programme under a technical services and advisory agreement.


Madbouly revealed that the agreement aims to assist in preparing companies for IPOs and enhancing governance.


The Prime Minister also noted that the agreement aims to promote the use of private capital and increase investments.


On Sunday, Diop began his visit to Egypt by meeting with President Abdel Fattah El-Sisi to discuss ways of enhancing bilateral cooperation and the IFC's support for Egypt's development priorities.

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