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IFC Partners with Egyptian Fintech Association to Support Ecosystem

The agreement is part of the IFC's Fintech Acceleration Program, and will work alongside other programmes led by the World Bank Group to continue building on Egypt's economy.

The Egyptian Fintech Association has entered a collaboration with the International Finance Corporation (IFC), a member of the World Bank Group. This cooperation aims to support fintech in Egypt, raising the bar for the development of the private sector and creating a streamlined fintech sector that uses global knowledge and experience as the main driver behind policy.

"The pandemic has highlighted the importance of fintech in solving longstanding development challenges like financial inclusion," said IFC country manager for Egypt, Yemen and Libya Walid Labadi. "Young entrepreneurs have the potential to harness fintech solutions and become a driving force for sustainable economic development and job creation. Strengthening the entrepreneurship ecosystem to support these efforts is a strategic priority for IFC in Egypt.”

The agreement is part of the IFC's Fintech Acceleration Program, and will work alongside other programmes led by the World Bank Group to continue building on Egypt's economy.