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Arab Finance: Egypt is expected to announce the first results of its airport public offering program before the end of the year, according to a report by the National Bank of Kuwait (NBK), which cited statements by the regional director of the International Finance Corporation (IFC), a member of the World Bank Group.
According to the report, the IFC, which serves as the government's strategic advisor on the program, said progress has been made in restructuring the initiative, which is intended to expand private-sector participation in the management and operation of Egyptian airports.
The program covers 11 airports, with Hurghada Airport among the first assets to be offered to private operators.
As part of its advisory role, the IFC is conducting technical and financial assessments, developing public-private partnership (PPP) models, and promoting the investment opportunities to local and international investors, in line with Egypt's economic reform program and State Ownership Policy Document.
The initiative is designed to increase operational efficiency, improve service quality, and attract new investment in the aviation sector through greater private sector involvement in airport management and operations.
NBK said the planned airport offerings, if completed, are expected to support infrastructure investment, improve the efficiency and competitiveness of Egypt's air transport sector, and strengthen investor confidence in the government's economic reform agenda.
