New IFC fund to boost tourism in Egypt

New IFC fund to boost tourism in Egypt

The International Finance Corporation (IFC) is ready to inject new investment into Egypt’s planned hotel development fund, the COO of the IFC, Stephanie von Friedeburg, said.

This aligns with the ministry of tourism aims to establish a private equity fund targeting financially impaired tourism establishments.

Friedeburg also said the IFC is willing to cooperate with the Egyptian tourism sector in several other areas. These includeg the provision of agricultural products for hotels through the supply chains of these products. It also involves benefiting from the IFC’s investments in the field of agriculture in several countries.

Moreover, the Ministry of Tourism is keen to enhance tourism investment opportunities in several tourist cities. This also includes the North Coast and the Al-Alamein region. They are among the most promising tourist areas in Egypt.

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