ACWA Power today welcomes (IFC), a member of the World Bank Group as a shareholder upon the formal closing of the private placement transaction of a new issue of primary equity shares representing a total investment amount of USD 100 Million
Jordan, a country long reliant on imported fuel, is set to transform its energy portfolio over the next few years, thanks to investment from IFC. The country has always had plentiful wind and solar resources but has struggled to harness these over
Afghanistan has one of the lowest rates of electricity usage in the world. Only 25 percent of its population is connected to the national grid and its national power utility, Da Afghanistan Breshna Sherkat (DABS), has struggled to provide sustainable
"The World Bank Group has elevated gender to become one of five cross-cutting solution areas across the entire organization, allowing us to maximize our impact on women by combining gender expertise from all parts of the group, including IFC."
The Middle East and North Africa faces significant challenges, but is also rich with economic potential. Hindrances to growth in the region include political instability, unemployment, overbearing bureaucracy, poor access to finance, and restrictive legislation.
IFC MENA is working to address these issues by supporting the region’s private sector; helping create jobs and drive sustainable and inclusive growth through a combination of investments and advisory services.
In fiscal year 2014, IFC committed $2.2 billion in MENA, including $509 million mobilized from other investors, and an advisory program worth a total of $105 million spread over 96 projects.
We focused on projects that improve and expand access to credit in an inclusive private sector, reduce bureaucracy, support fragile and conflict-affected states, combat climate change, boost infrastructure, and champion intra-regional South-South investment.