- Serious moves and tangible steps in the government's privatization program starting in the second quarter of 2026.
- Streamlining post-incorporation procedures through the automation of services in cooperation with GAFI and FRA.
- Inviting Citibank to expand its role in the Egyptian market through innovative financing tools such as sukuk and bonds.
- Consultations to deepen partnerships to contribute to financing infrastructure projects and supporting industrial and export companies.
Citi Bank executives:
- Egypt’s economic reforms have strengthened macroeconomic stability and are worthy of commendation.
- we emphasize our commitment to deepening partnership with the Egyptian government and supporting major investment transactions.
During his official visit to Washington, D.C., Dr. Mohamed Farid, Minister of Investment and Foreign Trade (MIFT), held an extensive meeting with senior executives of Citigroup Global. The meeting included Mr. Jay Collin, Global Chairman of Banking and Public Sector; Ms. Rula Dajani, Managing Director and Head of Government Affairs for the Middle East and Africa; Ms. Stephanie von Friedberg, Global Head of Public Sector Banking; and Ms. Ebru Pakcan, Chief Executive Officer, Middle East and Africa Cluster. The discussions focused on enhancing bilateral cooperation and promoting foreign investment in the Egyptian market.
The Minister affirmed that the government continues to implement an economic reform program based on tangible, on-the-ground measures through balanced monetary and fiscal policies, including the adoption of a flexible exchange rate that reflects market mechanisms, efforts to contain inflation, and addressing imbalances in the energy sector. He noted that these measures have contributed to strengthening the confidence of international financial institutions in the Egyptian economy.
The Minister reviewed the latest developments in the Government IPO Program, noting that the second quarter of the current year is expected to witness tangible progress in this regard. This comes in parallel with ongoing efforts to streamline post-establishment procedures through the digitization of services, in cooperation with the General Authority for Investment and Free Zones (GAFI) and the Financial Regulatory Authority (FRA), thereby accelerating investment processes and reducing bureaucratic burdens.
The Minister highlighted ongoing efforts to launch an “Industry Support Fund” under the umbrella of the Sovereign Fund of Egypt (TSFE), aimed at mitigating risks and stimulating the growth of industrial companies, in addition to the first Trade Tech Sandbox to support innovation in export services.
At the conclusion of the meeting, the Minister invited Citigroup Global to expand its role in the Egyptian market through innovative financing tools such as sukuk and bonds, and to contribute to financing infrastructure projects and supporting industrial and export-oriented companies, in addition to participating in investment promotion efforts and attracting major global corporations.
Citigroup executives expressed their appreciation for the economic reforms being implemented by the Egyptian government, affirming that they reflect a clear vision and constitute an important step towards enhancing economic stability and supporting the investment climate. They also affirmed their commitment to deepening partnership with the Egyptian government and supporting major investment transactions, thereby reinforcing Egypt’s position as an attractive destination for foreign investment and strengthening its role as a regional investment hub.
Citigroup is regarded as one of the world’s leading banking and financial institutions, with a broad global presence spanning more than 100 countries. It plays a pivotal role in financing governments and major corporations, managing investments, managing large-scale international transactions, and supporting emerging economies by connecting local markets with global investor networks—thereby enhancing capital flows and facilitating the implementation of major development projects.
