Egypt is restructuring its social protection systems to have a greater impact on poverty, using smart cards, cash transfers, and a labor-intensive public works program. World Bank Group President Jim Yong Kim will visit Luxor in rural Upper Egypt, ..
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.