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Cairo, Egypt, March 24, 2013
—Egypt’s Ministry of Finance is working with IFC, a member of the World Bank Group, and the American University in Cairo (AUC) to promote Public Private Partnerships (PPP) and help raise awareness of the benefits of private sector involvement in major infrastructure projects, including power, water, hospitals, schools, and transport networks.
IFC will provide ad-hoc technical assistance to teachers and students at AUC, a prestigious university in Egypt, including identifying PPP projects to showcase. Part of a Ministry of Finance initiative, the collaboration aims to encourage the creation of such projects by ensuring relevant knowledge is shared.
“These partnerships allow governments to tap into private sector expertise, which makes the delivery of basic services more efficient and helps build necessary infrastructure,” said Atter Hannoura, PPP Central Unit Director at the Ministry of Finance.
The new PPP Central Unit plans to hold joint conferences, workshops and other events with IFC and AUC in order to support prospective enterprise and promote awareness of the benefits of PPPs.
“Working closely with academia and governments in this area will promote public-private partnerships and develop the necessary knowledge base and skills of Egyptian citizens,” said Laurence Carter, PPP Director at IFC.
IFC has been advising the government of Egypt on the implementation of PPP deals since 2006, following the signing of a memorandum of understanding with the Ministry of Finance. Since then, the ministry has sought to pilot PPP projects in the water and sanitation, transport, and health sectors. Notable successes include the New Cairo Wastewater Project, completed in February 2010, and the development of two teaching hospitals in the city of Alexandria, agreed in April 2012.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
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