IFC invests $5.6bn to support private sector in Middle East and Africa – The National

SourceThe National
SectorEconomy
CountryMiddle east

The International Finance Corporation also commits almost $2bn in short-term trade financing to support regional SMEs A view of Cairo in Egypt. The International Finance Corporation (IFC) invested $5.6 billion to support the private sector in the Middle East and Sub-Saharan Africa in the fiscal year 2020. AFP The International Finance Corporation, a member of the World Bank Group, invested $5.6 billion (Dh20.56bn) to support the private sector in the Middle East and Sub-Saharan Africa in the fiscal year 2020, as regional economies slow down amid lower oil prices and the Covid-19 pandemic. The Washington-based institute committed $4.6bn in investments to private sector firms in Sub-Saharan Africa between July 1 last year and...read more...