Middle East and North Africa
By supporting private sector development, IFC has played an important role in addressing the challenges facing the Middle East and North Africa. Our commitments in the region totaled $2.8 billion in FY13, including more than $760 million mobilized from other investors—in spite of the region’s political uncertainty.
We continued to implement an integrated Investment and Advisory Services strategy, making access to finance a priority. In FY13, our clients provided about 1.9 million loans to micro, small, and medium enterprises in the region, totaling over $13 billion.
Improving the region’s investment climate has also been a strategic priority for us. So has strengthening education. In several countries, we rolled out the E4E Initiative for Arab Youth, a program designed to equip youth with the skills and training that employers want most.