Egypt is moving forward with plans to upgrade 11 airports through public-private partnerships, with support from the International Finance Corporation (IFC), the private sector arm of the World Bank. The initiative aims to enhance airport infrastructure, improve passenger services, and boost connectivity while reducing the financial burden on the state. Under the partnership, the IFC will serve as an advisor to Egypt’s Ministry of Civil Aviation (MoCA), helping design a strategy for engaging private sector partners in airport operations and development. The first phase of the plan will focus on Hurghada International Airport, Egypt’s second-busiest airport, where IFC will act as the lead transaction advisor. A competitive tender will be launched to select a private partner responsible for upgrading, maintaining, and operating the airport, while ownership remains with the Egyptian Holding Company for Airports and Air Navigation (EHCAAN). Aside from Hurghada, the IFC will assess the best approach for private sector involvement in 10 other airports, including Sharm El-Sheikh, Luxor, Aswan, and Borg El-Arab. The strategy may involve bundling multiple airports into a single investment package to attract private investors. The move is part of Egypt’s broader efforts to increaseContinue reading "Egypt Partners with IFC to Modernize 11 Airports Through Private Investment"
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