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IFC secures $ 300 mln for infrastructure development in Egypt

IFC secures $ 300 mln for infrastructure development in Egypt
The International Finance Corporation (IFC)'s total investments in Egypt recorded US$1 billion, including US$300 million directed for providing services, focusing on technological and financial industries as well as developing infrastructure within the upcoming period, said IFC regional director Nada Shousha. In Egypt, the number of citizens who have bank accounts hit 10 million, compared to more than 50 million citizens with no bank accounts yet, she noted. Yet, there are more than 90 million cellular subscribers in the North African country , reported amwalalghad newspaper. This in return requires a sustainable cooperation between banks and mobile operators to work on increasing more citizens to get bank accounts and have access to entire financial services in Egypt.