Minister of Planning and Economic Development Ahmed Rostom inaugurated a high-level consultation session with the World Bank Group as part of joint efforts to study a financing and guarantee mechanism for infrastructure development in Egypt. The session was attended by Deputy Prime Minister for Economic Affairs Hussein Issa and Minister of Electricity and Renewable Energy Mahmoud Esmat, alongside officials from several ministries, financial institutions and development partners.
World Bank Group representatives included Yira G. Mascaro and Saad Sabra. Issa said Egypt’s shift toward providing local-currency financing and guarantees for infrastructure projects, particularly in energy and housing, will support ongoing economic reform efforts.
He added that the economy requires increased infrastructure investment, especially in energy to support industrial expansion and agricultural development, while the state is also working to expand private sector participation in renewable energy projects. Minister Esmat stressed the importance of diversifying energy sources and expanding renewable energy in line with Egypt Vision 2030, noting that the session reflects continued efforts to broaden financing sources and strengthen public-private partnerships.
He added that such mechanisms would help reduce project costs and introduce innovative long-term financing tools. In his remarks, Rostom said the discussions are part of ongoing engagement with the World Bank Group to develop blended financing structures combining local and foreign currency funding, alongside guarantee mechanisms aimed at improving infrastructure financing efficiency.
He expressed appreciation for cooperation with the World Bank Group, describing the mechanism as a step toward expanding innovative financing tools that reduce risk and support Egypt’s transition toward renewable energy and infrastructure expansion. The World Bank Group reaffirmed its commitment to supporting Egypt’s development agenda and implementing the proposed mechanism, while the IFC said the initiative would help attract additional investors and expand private sector participation.
At the conclusion of the session, the mechanism was presented as a tool to strengthen public-private partnerships, mobilize financing and enable infrastructure development without adding pressure on the state budget. MENA