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IFC Cosponsored Conference in Egypt Finds Public-Private Partnerships Improve Services


In Cairo
Riham Mustafa
Phone: + (20) 2 461 9150
Email: rmustafa@ifc.org


Cairo, 13 March 2007 — Egypt’s Ministry of Finance hosted a three-day conference on Public-Private Partnerships (PPPs) from March 12 to 14, 2007. The event was organized in association with IFC, the private sector arm of the World Bank Group, and brought together experts from around the world to discuss this new, effective business model for improving the quality of services to people who need them most.

Participants discussed key issues and were presented case studies and lessons learned from PPP transactions in the region and around the world. A preconference seminar provided basic information about the topic to delegates and prepared them for the discussions.

In December 2006, IFC signed its first PPP advisory agreements with the government of Egypt to support three infrastructure projects in priority sectors. Two of these, the New Cairo Potable Water and Wastewater projects, will provide safe water and sanitation to the growing population of New Cairo and outlying areas, while the New Schools project will help meet the country’s growing demand for schools.

To support the government’s plan to expand and develop Egypt’s infrastructure, the Ministries of Finance and Investment have each created dedicated units to assist in coordinating, implementing, and overseeing PPP transactions.

Bernard Sheahan, Director of IFC’s Advisory Services Department, noted, “IFC has in-depth expertise in providing advisory services in the implementation of sustainable PPP projects across numerous sectors and regions. We look forward to cooperating with the Egyptian government and sharing the knowledge we have acquired through our extensive experience in such projects."

About IFC
IFC, the private sector arm of the World Bank Group, promotes open and competitive markets in developing countries.  IFC supports sustainable private sector companies and other partners in generating productive jobs and delivering basic services, so that people have opportunities to escape poverty and improve their lives. Through FY06, IFC Financial Products has committed more than $56 billion in funding for private sector investments and mobilized an additional $25 billion in syndications for 3,531 companies in 140 developing countries. IFC Advisory Services and donor partners have provided more than $1 billion in program support to build small enterprises, to accelerate private participation in infrastructure, to improve the business enabling environment, to increase access to finance, and to strengthen environmental and social sustainability. For more information, please visit www.ifc.org.

About IFC PEP MENA
IFC PEP-MENA is a multidonor facility for technical assistance that supports private sector development across the Middle East and North Africa. IFC PEP-MENA focuses on improving the business enabling environment, strengthening financial markets, supporting SME development, and promoting privatization and public-private partnerships. From its inception through FY06, IFC PEP-MENA has committed more than $20 million in technical assistance and advisory services projects. Its activities are funded jointly by IFC and the following donors: Canada, France, the Islamic Development Bank, Japan, Kuwait, the Netherlands, the United Kingdom, and the United States.