Egypt needs to create around 1.3 million jobs every year to keep pace with its growing workforce. Yet over the past two decades, the country has created an average of only 600,000 jobs annually.
Closing that gap will require businesses to start, grow, invest, and hire — and more private capital to flow into sectors that can create jobs and economic opportunity. When businesses invest, jobs grow. When jobs grow, opportunities grow.
This challenge extends beyond Egypt. Over the next 10 to 15 years, 1.2 billion young people globally will reach working age, while only around 400 million jobs are expected to be created. With nine out of every 10 jobs in developing economies generated by the private sector, enabling businesses to invest and grow will be essential to meeting future employment needs.
Turning Development Needs into Investment Opportunities
Public resources alone cannot meet the scale of investment needed to support Egypt’s development ambitions. Mobilizing private capital — bringing private investment alongside public and development financing — will be needed to close that gap.
“Job creation in Egypt will depend not only on how much capital is available, but on where it flows. Mobilizing private capital helps direct investment toward opportunities that can generate growth, create jobs, and deliver tangible development results,” said Alwaleed Fareed Alatabani, Division Director for Egypt, Yemen, and Djibouti at the World Bank.
“Egypt offers great potential for increased private investment. By combining advice and financing, de-risking projects and mobilizing additional private capital, IFC helps businesses invest and grow, supporting more and better jobs for Egyptians,” said Ary Naïm, Division Director for North Africa and the Horn of Africa at the International Finance Corporation.
Private capital mobilization is one way the World Bank Group helps countries attract investment to advance development priorities and support the creation of more and better jobs — a central priority for the World Bank Group. Private capital mobilization can involve strengthening policies and regulations, improving markets, reducing risks, or connecting private capital with viable investment opportunities.
Across the World Bank Group, different institutions bring complementary tools to this work. The World Bank supports national efforts to strengthen the policies, institutions, and markets that enable private sector participation. The International Finance Corporation (IFC) invests directly alongside businesses and mobilizes additional private financing. The Multilateral Investment Guarantee Agency (MIGA) provides guarantees against political and non-commercial risks that might otherwise deter investors. Together, these efforts have helped mobilize nearly US$6.7 billion in private capital for Egypt since fiscal year 2022, directing investment toward opportunities that can support growth and create jobs.
