The International Finance Corporation (IFC), a subsidiary of the World Bank in charge of the private sector, plans to invest 1.2 to $ 2 billion in Egypt over the next four years, focusing on infrastructure and energy, reported Reuters.

Since the uprising in 2011, IFC has invested around $1bn in Egypt; however,  they are working towards boosting their investment levels in Egypt. “We plan to invest between $300m and $500m per year in Egypt over the next four years in different sectors, but especially on infrastructure and energy,” said Mouayed Makhlouf, IFC’s MENA Director.

IFC also plans to fund at least three renewable energy projects in the Nile Countries during the coming period.