Abu Dhabi, United Arab Emirates: IFC today announced a partnership with Safaga Terminal Operating Company, owned by the UAE‑based AD Ports Group, to expand access to critical port services in Egypt and create direct and indirect jobs in trade, construction, and maritime and logistics sectors.
The collaboration, which also mobilized support from the National Bank of Kuwait (NBK) Egypt, will support the development of a multipurpose terminal in Safaga on the Red Sea and enhance the terminal’s container annual capacity to an estimated 450,000 TEUs (twenty-foot equivalent units), strengthening trade flows and regional competitiveness.
This investment will improve the efficient movement of agriculture and food products, construction materials, manufacturing and industrial goods, and minerals.
The entire infrastructure is expected to meet best sustainability criteria, through the electrification of container handling equipment such as quay cranes and rubber-tyred gantry cranes. Additionally, it supports the modal shift from road freight to short-sea shipping, which will reduce emissions by almost 50,000 tCO2e annually.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “This IFC-backed project finance facility reflects our prudent approach to funding long-term infrastructure assets in emerging markets through multilateral and institutional partnerships. The participation of IFC, NBK - Egypt, and other international investors supports the development of the Noatum Ports - Safaga Terminal and reinforces our growing presence in Egypt, a market of strategic importance to the global supply chain. Guided by the vision of the UAE’s wise leadership, we remain focused on delivering resilient, infrastructure assets that enhance connectivity, support sustainable economic growth, and create long-term value for our stakeholders.”
NBK – Egypt’s Vice Chairman, CEO and Managing Director Yasser El Tayeb stated that “This landmark financing underscores NBK - Egypt’s commitment to supporting strategic infrastructure projects that drive sustainable economic growth along with having environmental impact reducing the CO2 emissions. Our collaboration with IFC and AD Ports Group reflects our confidence in Egypt’s logistics sector and its long-term potential.”
"Enhancing trade is key to stimulating economic development,” said IFC’s Managing Director Makhtar Diop. “This transaction demonstrates how IFC can be a strategic enabler for South-South investments. The project will strengthen Egypt’s position as a central trade hub, lower costs for local businesses and create high-quality jobs, while also reinforcing the UAE’s position as a regional growth engine and a partner for deeper economic integration.”
Egypt's port sector holds a strategic position in global trade. Despite the fast growth of the country’s Red Sea ports, expanding by 6.8 percent annually, some remain underdeveloped in both capacity and modern infrastructure, which raises logistics costs and limits access to global markets for export-oriented industries in Upper Egypt.
The project aligns with the World Bank Group’s Country Partnership Framework for Egypt, which aims to promote, among other goals, the creation of high-quality private sector jobs in the country and foster green, resilient, and inclusive development.
Since beginning operations in Egypt 50 years ago, in 1976, IFC has invested and mobilized $10 billion in development projects. IFC’s private sector support in Egypt focuses on fintech, climate finance, manufacturing, infrastructure, renewable energy, healthcare, gender, and other sectors.
IFC is providing Safaga Terminal Operating Company loans totaling $61 million, in addition to mobilizing a parallel loan of up to $54 million from National Bank of Kuwait Egypt.
IFC will also provide environmental and social (E&S) guidance to help mitigate and manage risks in line with IFC’s Performance Standards.
This transaction underscores IFC’s commitment to South–South investment. In the past five years, IFC has invested from its own account and mobilized over $5 billion for GCC-based companies, helping almost 40 GCC-based projects expand beyond their borders and secure around 60,000 jobs in emerging markets.
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