IFC injects $2bn investments in MENA

IFC injects $2bn investments in MENA

The International Finance Corporation (IFC) has invested $2 billion in the Middle East and North Africa (MENA) region during the fiscal year 2017/2018.

The IFC paid 50% of these investments and secured the remainder from regional investors, according to the Middle East News Agency.

These investments helped create over 119,000 jobs, supply energy to 500,000 people, and provide more than 2.9 million with healthcare services, the IFC said, adding that it has launched various projects in the region including a $653 million solar energy project in Egypt.

The international financial institution manages a large portfolio of consulting services in the region, comprising 83 projects worth around $128 million.

-Mubasher