IFC Middle East

JUST RELEASED: IFC - International Finance Corporation delivered record-breaking impact in Fiscal Year 2024 with a 30% increase YOY for the second time running —showcasing our transformation as an institution and our unique ability to mobilize the private sector as a force for good on an unprecedented scale. We are laser-focused on our priorities – scaling climate solutions, accelerating gender equality, bolstering food security, pioneering digital innovations, and mobilizing billions in new capital. With a historic commitment of $55.8B, an exceptional year-on-year increase, our investments in FY24 speak volumes on the World Bank Group’s commitment to end poverty on a livable planet. Look behind our FY24 numbers to learn more. http://wrld.bg/L9Zy50SzfRB #IFCimpact

Exciting news! IFC provides a $15 million loan to MAN Enterprise Group, an engineering, procurement, and construction Group operating in MENA and Europe to help it grow across the #MiddleEast and #Africa, supporting private sector development and job creation. The loan aims to help the company: ➡️Create jobs by undertaking new projects in new countries. ➡️Promote green construction by adopting climate-friendly technologies. ➡️Improve gender inclusion. 🔎This flagship project has many promising outcomes, to learn more about it, visit: https://lnkd.in/e8-8E_5T IFC - International Finance Corporation MAN Enterprise

JUST RELEASED: IFC delivered record-breaking impact in Fiscal Year 2024—showcasing our transformation as an institution and our unique ability to mobilize the private sector as a force for good on an unprecedented scale. We are laser-focused on our priorities – scaling climate solutions, accelerating gender equality, bolstering food security, pioneering digital innovations, and mobilizing billions in new capital. With a historic commitment of $55.8B, an exceptional year-on-year increase, our investments in FY24 speak volumes on The World Bank Group’s commitment to end poverty on a livable planet.

🎉 Congratulations to Alsaree3 Group Ltd., a beneficiary of IFC - International Finance Corporation's #ScaleIraq program, on receiving a seven-figure sum in Series A funding.  🎉 Bassam Al-Ateia Ministerie van Buitenlandse Zaken

A warm welcome to Marcel Rached, our new Country Head for #Jordan! Marcel will focus on spearheading the growth and expansion of IFC's presence in Jordan and will aim to actively contribute to developing the country's private sector. #CareersWithImpact IFC - International Finance Corporation

The Government of #Iraq, through the Ministry of Transport and the General Company for Airports and Air Navigation Administration (#GCAAN), has launched a Request for Qualification (RFQ) to identify a qualified private-sector partner to rehabilitate, expand, finance, operate and maintain Baghdad International Airport (#BIA) under a public-private partnership (#PPP) model. Companies complying with the RFQ requirements will be shortlisted and will have the opportunity to participate in the next stage of the tender process and submit a bid. The RFQ document is available on the GCAAN website: https://lnkd.in/eGyBD8Gg Qualification applications will be accepted until September 12th at 12:00 pm local time. #BIA is Iraq’s largest international airport and a key strategic asset for the economic and social development of Iraq. Through this PPP, the Government aims to modernize and expand airport infrastructure and provide best-in-class services. IFC PPP Transaction Advisory is proud to be supporting the Government with this flagship project, which is the first public PPP tender and first airport concession to be launched in Iraq. Prime Minister's Office, Republic of Iraq IFC Middle East

It was a true pleasure to speak at a great event in Amman this week where 10 #startups from #Iraq, #Lebanon, and #Jordan pitched their innovative ideas at the first #StartMashreq Demo Day, organized by our longstanding partner Flat6Labs, with the support of Ministerie van Buitenlandse Zaken. It was inspiring to see these startups represent a stellar example of how #technology and #innovation can help overcome some of the biggest development challenges, create new jobs, and pave the way for a better future. At IFC Middle East, we are proud to support such promising #techstartups and be part of their growth journey. A big shoutout to my team for leading this important effort including Abeer Shalan, Menan Omar, and Dina Elkhishin. I would also like to thank Flat6Labs for its continuous support to the #entrepreneurship agenda across the region and for implementing this project with us -- and thank H.E. Ambassador Harry Verweij, Ambassador of the Netherlands to Jordan for his unwavering commitment to development. Looking forward to see how all these startups will reimagine and reshape the business landscape in the region! Hany Al-Sonbaty, Ramez El-Serafy, Yehia Houry, Ragia Abdel Ghafour

Great news: The World Bank, IFC - International Finance Corporation, and the Multilateral Investment Guarantee Agency (MIGA) announced that Dina Abu-Ghaida will be the World Bank Group’s Country Manager in #Yemen, as part of the Group’s strategy to unify its country-level leadership across its institutions. Doing so creates a single point of contact for accessing the full breadth of our products and services and helps us better support efforts to meet the country’s public and private sector priorities.   Over the last decade, IFC Middle East has invested in priority areas in Yemen including the financial sector, agribusiness, manufacturing, and health. This includes recent engagements in the banking sector to facilitate trade as well as $135 million that IFC recently invested and mobilized to support one of Yemen’s leading food conglomerates in an effort to ramp up the production and distribution of essential food supplies. IFC continues to engage with the private sector in several industries and aims to mobilize Foreign Direct Investments and donors to finance private investments to bridge major financing gaps. IFC is also working on a strategy for “Bringing back business to Yemen” by helping non-resident Yemeni businessmen invest in the country. Learn more about the appointment of the new World Bank Group Country Manager to Yemen here:

أعلنت مجموعة البنك الدولي اليوم تعيين دينا أبو غيدا في منصب مدير مكتب مجموعة البنك الدولي المسؤول عن اليمن، وفي إطار هذا المنصب، سيتم توحيد القيادة المسؤولة عن اليمن على مستوى مجموعة البنك الدولي بأكملها لدعم أولويات القطاعين العام والخاص على نحو أفضل. وستقود أبو غيدا، التي تعمل من عمّان بالأردن، عمليات وبرامج ومشروعات مجموعة البنك الدولي في #اليمن، ويشمل ذلك إقامة حوارات على مستوى السياسات مع المسؤولين الحكوميين والمجتمع المدني والقطاع الخاص وشركاء التنمية. https://lnkd.in/dzYrxdCN Dina Abu-Ghaida مؤسسة التمويل الدولية

Together with EBRD and Capital Bank of Jordan, we marked a key milestone in our efforts to support #tourism in #Jordan, a sector which once accounted for nearly 15% of the country's GDP and is now witnessing a 9.7% decline in tourist arrivals due to the conflict in the Middle East.   By joining our forces, we are providing an $81 million loan to finance the development of one of Jordan’s main tourist attractions, #Aqaba. The financing will help Ayla Oasis complete a sustainable green hotel to attract more tourists and create jobs during construction and operation. Such initiatives are key for improving the resilience of the tourism sector and the Jordanian economy as a whole at a critical time.     I would like to thank our partners for their support and my team for leading this important initiative.    Gretchen Biery, Jurgen Rigterink, Tamer Ghazaleh   Ashruf Megahed, Lukas Casey, Zeina Mouawad, Alfonce Mudzi, Iyad Zawaideh, Mohamed Kesseibi IFC Middle East You can read more anout this initiative here: https://lnkd.in/eV4Gi45B