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."
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.