Qatar Joins IFC as 181st Member Country

On October 11, 2008, Lars Thunell, IFC Executive Vice President and CEO, and Youssif Hussain Kamal, Qatar's Minister of Finance, signed the Articles of Agreement for Qatar to become IFC's 181st member country.

The Middle East and North Africa is strategically important for IFC. One of our main objectives in the region is to encourage capital flows, particularly from Gulf Cooperation Council countries to neighboring countries.

In fiscal 2008, IFC's investments in the region increased to $1.4 billion for 50 projects in 12 countries. We also increased our expenditure for advisory services to more than $22 million, up substantially from $5.7 million three years ago.

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