CEO of the International Finance Corporation (IFC) Philippe Le Houerou has announced that the IFC will expand its activities and investments in Egypt in the coming period, especially amid the second wave of Egypt’s economic reforms.

Le Houerou’s announcement came during a meeting held with Egypt’s Minister of International Cooperation Rania El-Mashat.

Le Houerou said the IFC will also support Egypt’s private sector, adding that the organisation is interested in building a strategic cooperation partnership with Egypt.

He added that he is optimistic about the structural reforms that Egypt will adopt in the second wave of its economic reform programme, praising Egypt’s success in implementing promising projects, especially in the renewable energy sector.