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Latest News

  • 11-02-19

    Mena to receive USD2b investment from IFC

    (MENAFN) The Middle East and North Africa (Mena) region will receive this year over USD2 billion of investment from the International Finance Corporation (IFC).

    World Bank's private sector arm IFC is looking through the investment to develop the private sector and widen its regional economies.

    The news was unveiled by IFC's vice president for the Middle East and Africa Sergio Pimenta while speaking in Dubai with The National.

    The official affirmed that "we do need the private sector to play a bigger role in Mena economies, so we're looking for ways to leverage our resources to create new markets and sustainable jobs in the countries in which we operate."

    IFC has been stepping up its efforts in the Mena region, as it delivered USD100 million in equity investment in Saudi Acwa Power in 2014.

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