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Égypt-actus
Égypt-actus
revue de presse sur l'actualité culturelle, archéologique, politique et sociale de l'Égypte
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Egypt Partners with IFC and American University to Boost PPPs

Egypt Partners with IFC and American University to Boost PPPs | Égypt-actus | Scoop.it
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.

More on: http://www.webwire.com/ViewPressRel.asp?aId=172129

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World Bank's IFC plans Egypt currency swaps: CEO

World Bank's IFC plans Egypt currency swaps: CEO | Égypt-actus | Scoop.it
The International Finance Corp plans to conduct currency swaps in Egypt to help local firms meet their foreign exchange needs, and is considering whether to issue local currency bondsin several Middle Eastern countries to fund investments there.


"In the Middle East the challenge is not the lack of capital but the access to dollars by local banks," IFC chief executive Jin-Yong Cai said in an interview.

"Just like we did in other places globally, we'll come up with an instrument to swap dollars for local currency in Egypt. We need local currency and some other private investors need dollars. It's in a way a hedging for investments."

Some Egyptian firms are finding it increasingly hard to obtain U.S. dollars for imports, debt repayments and other purposes, after political unrest slashed the country's foreign reserves over the past two years and authorities imposed capital controls.

 

Cai did not elaborate on how and when the IFC, a unit of the World Bank which invests in developing the private sector in emerging economies, would conduct the swaps.

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