Cairo, Egypt, March 24, 2013—Egypt’s
Ministry of Finance is working with IFC, a member of the World Bank Group,
and the American University in Cairo (AUC) to promote Public Private Partnerships
(PPP) and help raise awareness of the benefits of private sector involvement
in major infrastructure projects, including power, water, hospitals, schools,
and transport networks.
IFC will provide ad-hoc technical assistance
to teachers and students at AUC, a prestigious university in Egypt, including
identifying PPP projects to showcase. Part of a Ministry of Finance initiative,
the collaboration aims to encourage the creation of such projects by ensuring
relevant knowledge is shared.
“These partnerships allow governments
to tap into private sector expertise, which makes the delivery of basic
services more efficient and helps build necessary infrastructure,” said
Atter Hannoura, PPP Central Unit Director at the Ministry of Finance.
The new PPP Central Unit plans to hold
joint conferences, workshops and other events with IFC and AUC in order
to support prospective enterprise and promote awareness of the benefits
“Working closely with academia and
governments in this area will promote public-private partnerships and develop
the necessary knowledge base and skills of Egyptian citizens,” said Laurence
Carter, PPP Director at IFC.
IFC has been advising the government
of Egypt on the implementation of PPP deals since 2006, following the signing
of a memorandum of understanding with the Ministry of Finance. Since then,
the ministry has sought to pilot PPP projects in the water and sanitation,
transport, and health sectors. Notable successes include the New Cairo
Wastewater Project, completed in February 2010, and the development of
two teaching hospitals in the city of Alexandria, agreed in April 2012.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, mobilizing
capital in international financial markets, and providing advisory services
to businesses and governments. In FY12, our investments reached an all-time
high of more than $20 billion, leveraging the power of the private sector
to create jobs, spark innovation, and tackle the world’s most pressing
development challenges. For more information, visit www.ifc.org.