11 Oct 2011
(MENAFN) World Bank’s International Finance Corporation’s (IFC) chief executive and executive vice president, Lars Thunell, said that in order to alleviate post-revolution transitions, over the coming 3 to 4 years, the company would increase its investments in the region to USD6 billion, reported The National.
Thunell added that the amount would be mainly invested in job creation, enhancing civil infrastructure and other factors that would boost economic growth in the Middle East and North Africa (MENA) region.
He also said that in 2011, the World Bank’s private sector arm approved USD1.35 billion of investments in the region including USD600 million allocated to Tunisia and Egypt, moreover, around USD6.2 million were allocated for technical support in advisory projects.
It is worth noting that the IFC along with the Arab Monetary Fund (IMF) signed an agreement to help increase access to fund small businesses in MENA, a step which would create job opportunities to the region’s 10.3 percent unemployment rate.
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more