Egypt to modernize airports through private sector investment
CAIRO, Egypt (MNTV) – The Egyptian government has signed a strategic agreement with the International Finance Corporation (IFC), the World Bank’s private sector arm, to accelerate the modernization of its airport infrastructure through increased private investment.
The deal, signed at a ceremony in Cairo, aims to enhance operational efficiency, expand capacity, and improve service quality across Egypt’s 23 airports, including the major hub at Cairo International Airport.
The partnership comes as Egypt experiences significant growth in air travel, with passenger traffic increasing by 9% in 2024 to surpass 50 million travelers. Flight operations also rose by 3% during the same period.
Prime Minister Mostafa Madbouly emphasized that this agreement marks the beginning of broader collaboration between Egypt and the IFC, which will provide technical expertise to attract both domestic and international private investment.
The initiative builds upon Egypt’s privatization program launched in June 2023, which seeks to stimulate economic growth through private sector participation in key industries.
Minister of Planning and Economic Development Rania Al-Mashat noted that expanding private investment in airports aligns with strong performance in Egypt’s tourism, transportation, and logistics sectors.
The country welcomed 15.3 million tourists in 2024, a 5% increase from the previous year, with private investments accounting for 63% of tourism sector activity.
With the imminent opening of the Grand Egyptian Museum in July 2025 and an ambitious target of 30 million annual tourists by 2028, Egyptian authorities are prioritizing airport modernization to accommodate growing demand.
Minister of Civil Aviation Sameh El-Hefny announced plans to develop a strategic framework for identifying airport projects suitable for public-private partnerships as part of the agreement.
IFC Vice President for Africa Sérgio Pimenta stated that upgrading Egypt’s airport infrastructure through private sector collaboration will play a vital role in economic development, helping transform the country into a global hub for travel and trade.
The government has set capacity targets of 72.2 million annual passengers by the end of 2025 and 110 million by 2030, with private investment expected to drive much of this expansion.
The agreement represents a significant step in Egypt’s efforts to leverage private sector expertise and capital to modernize critical infrastructure, ensuring its aviation facilities can support the country’s growing role in international tourism and commerce.
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