By: Ahmed Allam
Cairo - Mubasher: The International Finance Corporation (IFC) is planning to invest around $352 million (EGP 3.1 billion) in Egypt during the current fiscal year, according to the IFC MENA Director Mouayed Makhlouf.
The international institution investments in Egypt is mainly focused on banking, industrial, and infrastructure sectors, as well as hotels and tourism, according to Makhlouf.
Obtaining investments from international organisations reflects the confidence in the Egyptian economy, professor of International Finance at Cairo University Fakhry Elfiky told Mubasher.
The IFC investments in Egypt totalled around $1.5 billion between 2011 and 2016, according to official data.
Translated by: Moslem Ali
