Middle East & North Africa
Economic growth in the Middle East and North Africa region is well below potential. Youth unemployment is high, and conflict has displaced vast numbers of people. IFC’s strategy in the region promotes private sector-led growth for job creation. We seek to improve the investment climate by increasing access to finance, minimize infrastructure gaps, support entrepreneurship, and facilitate cross-border trade and investment flows. To strengthen the digital ecosystem, we strengthen legal infrastructure, provide finance, and enable fintech.
In FY19, we invested about $891 million in the region, including $370 million mobilized from other investors. Our clients reached about one million farmers, cared for 4.5 million patients, and generated and distributed power to 3.4 million people.
Project Financing and Portfolio, by Region
|Middle East & North Africa*
$ millions, for the year ending June 30
|Long-term investment commitments||520|
|Guarantees and risk management||56|
|Portfolio Exposure*** for IFC's account||4,282|
|Committed portfolio for loan syndications****||1,301|
|Total committed portfolio||5,584|
*Afghanistan and Pakistan, which previously were included in this region, are now grouped under South Asia. ** Including Loan Syndications (B-Loans, Parallel Loans, and MCPP Loans), IFC Initiatives, AMC, Other Mobilization by Decision, and Public-Private Partnerships (PPP) Mobilization, as applicable for this Region. *** Portfolio exposure is defined as the sum of the (i) committed exposure for IFC’s debt investments, (ii) fair market value of IFC’s equity investments, and (iii) total undisbursed equity commitments. **** Including B-Loans, Agented Parallel Loans, MCPP Loans and Credit Insurance Policies (CIP). 1 Excludes individual country shares of regional and global projects.
|Middle East & North Africa||Portfolio|
|MSME loans (# of loans)1||1,192,041||1,084,632|
|MSME loans (amount in $ millions)1||5,911||9,400|
|Power generation (millions of people)||2.9||2.9|
|Power distribution (millions of people)||0.5||0.5|
|Phone connections (millions of people)2||1.0||17.0|
|Domestic purchase of goods and services ($ millions)||1,601||1,439|
|Payments to governments ($ millions)||870||941|
1 Portfolio reach figures represent the micro, small, and medium outstanding loan portfolio of IFC's financial institution clients with MSME-oriented finance. 2 One client in Middle East & North Africa contributed 16 million to phone connections customers reached. 3 One client in Middle East & North Africa contributed 1 million farmers reached.
Largest Country Exposures
|Portfolio Exposure ($ millions)1|
|Rank within Region||Country||FY18||FY19|
|1||Egypt, Arab Republic of||1,388||1,236|
Based on IFC's account, as of June 30
1 Excludes individual country shares of regional and global projects.