The Multilateral Investment Guarantee Agency (MIGA) has provided guarantees totaling 500 million dollars for the private sector in Egypt since 2012. This facilitates the attraction of foreign direct investments, supporting 15 projects in the areas of energy, infrastructure, manufacturing, and other sectors, as reported by the Egyptian newspaper 'Al-Ahram'.
The Minister of Planning and Economic Development and International Cooperation, Dr. Rania al-Mashat, discussed future projects in Egypt with the agency, which is affiliated with the World Bank, including expanding guarantees for export and financing of trade.
Al-Mashat emphasized the importance of coordinated joint efforts to strengthen the links between the Multilateral Investment Guarantee Agency (MIGA), local and foreign private companies to meet their needs.
Only guarantee mechanisms launched by the World Bank, which provide a specialized window for all types of guarantees, presented to agencies, and also international financial institutions were considered.
Ministerial meetings with the international institutions are directed at strengthening cooperation in the area of supporting the private sector and expanding the agency's activities in Egypt for the creation of additional financial instruments, opening pathways to local and foreign investments.
