IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets.

In January 2023, the Egyptian government appointed the corporation to provide advisory services for its initial public offerings (IPOs) programme for state-owned companies.

During his visit, Pimenta will meet with key government officials, including Prime Minister Mostafa Madbouly and Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, to discuss and identify new opportunities for further economic growth in alignment with Egypt’s Asset Monetization Programme.

Pimenta will also meet with private sector leaders and sign several agreements to advance climate finance, sustainable tourism, and access to finance for micro, small, and medium-sized enterprises (MSMEs).

Since beginning its operations in Egypt in 1975, IFC has invested and mobilized $9 billion in development projects and has an advisory portfolio of $24 million.

IFC's private sector support in Egypt focuses on fintech, climate finance, manufacturing, infrastructure, renewable energy, healthcare, gender, and other sectors.

Pimenta oversees all investment and advisory operations in a region with a committed portfolio of over $15 billion and more than 800 staff working to expand the private sector’s role in addressing urgent development challenges in the financial, manufacturing, agribusiness services, and infrastructure industries.