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About IFC - IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development.
16/01/2012
IFC to invest billion dollars in Arab countries
Dubai, Regional Director of the International Finance Corporation of the World Bank on Sunday, said that the organization intends to invest one billion dollars in countries including Egypt, Iraq, Jordan, Libya, by the end of next June.
And said supporters Makhlouf, Regional Director for the Middle East and North Africa in the organization, on the sidelines conference in Dubai so far invested over a billion dollars since July 2011 and we intend to invest another billion.
He emphasized that the Foundation will begin a study of Libya, particularly trade finance. He added that the institution which invests in private sector development in emerging markets, considering sectors including infrastructure, education, financial services and trade.
The Foundation has invested $2.2 billion in the Middle East and North Africa since January of last year, to become an important tool to guide the capital of the companies affected by the disorder the Arab world.
The Foundation has invested $50 million in shares of Orascom Construction Industries, and agreed to lend the company Egyptian Fertilizers $200 million last July. In December last and the Foundation agreed to invest up to $110 million in Jordanian Hikma Pharmaceuticals to assist in the arrival of drugs in the high degree of quality for the Middle East and North Africa.
The corporation has signed in the same month, the secondary loan agreement worth $ 170 million with Bank Muscat of Oman, through a fund that supports capitalization of banks in emerging markets.
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