Part of the signing ceremony. Photo courtesy of Egyptian cabinet Facebook page.
Egypt has 23 airports, with Cairo International Airport being the largest. According to the Ministry of Civil Aviation, passenger traffic rose by nine percent in 2024, reaching over 50 million, while flight operations increased by three percent.
During the signing ceremony in Cairo, Prime Minister Mostafa Madbouly emphasized that this agreement is preliminary to a broader collaboration between the Egyptian government and the IFC, the private sector financing arm of the World Bank.
The partnership aims to “capitalize on the IFC’s expertise in attracting investments from domestic and international private sectors, offering technical support to national institutions to improve the business environment, and strengthening public-private partnerships across various developmental sectors,” Madbouly said.
Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat stated that this partnership with the IFC builds upon the cooperation established in June 2023 under the government’s privatization programme, which aims to drive economic growth through increased private investment in key infrastructure, including airports.
Al-Mashat noted that expanding private sector involvement in airports aligns with strong growth in Egypt’s tourism, transport, and logistics sectors.
The tourism sector witnessed growth, with Egypt welcoming approximately 15.3 million tourists in 2024, a nearly five percent increase compared to 2023.
Private investments comprise 63 percent. Inbound tourism hit record levels in 2024, and the country is preparing for the Grand Egyptian Museum (GEM) opening, scheduled for 3 July 2025.
Egypt has set an ambitious target of attracting 30 million tourists annually by 2028.
“These developments underscore the rising demand for air travel and the significant opportunities available for private sector investment in Egypt’s airport infrastructure.”
Minister of Civil Aviation Sameh El-Hefny stated that, as part of the newly signed agreement with the IFC, Egypt plans to establish a strategic framework to identify airport projects suitable for implementation through public-private partnerships.
For his part, Sérgio Pimenta, IFC vice president for Africa, highlighted that strengthening Egypt’s airport infrastructure through collaboration between the public and private sectors will play a crucial role in driving economic growth.
"This programme will help attract global investors to develop modern, highly efficient airports that strengthen Egypt’s position as a global hub for travel and trade," Pimenta added.
Egypt aims to expand airport capacity, targeting 72.2 million passengers annually by the end of 2025 and 110 million by 2030.
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