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Ensuring a sustainable recovery from COVID-19

IFC is helping to combat poverty and foster shared growth.
IFC is helping to combat poverty and foster shared growth.
Anam Abbas/IFC

IFC provides emergency financial support to businesses across the region and works to reignite private investment. Both are critical to helping emerging markets and developing economies foster shared growth as they grapple with the impact of COVID-19.

Key Projects:

  • In Türkiye, we provided a loan to Garanti BBVA, allowing it to extend financing to smaller businesses affected by the pandemic.
     
  • In Kazakhstan, we helped local microfinance institution KMF weather the impact of COVID-19,  allowing it to support its borrowers and protect jobs.
     
  • In Türkiye, we provided a loan to Nobel Ilac, a pharmaceutical company, to help the firm maintain operations and preserve jobs during the pandemic. 
     
  • In Pakistan, we invested in Packages, one of Pakistan’s leading packaging and tissue paper producers, helping it to modernize its operations. The investment will also help ensure that people can continue to buy critically needed hygiene products amid the pandemic.
     
  • Across the Middle East, we provided a debt financing package to Hikma Pharmaceuticals to help ensure smooth deliveries of medicines amid the pandemic. The package is part of IFC’s $8 billion fast-track COVID-19 facility that is being used to help existing clients address the operational and financial impact of the pandemic.
     
  • In Türkiye, we provided a loan to Türkiye Şişe ve Cam Fabrikaları, a glass and chemicals production company, to support the country’s manufacturing sector.
     
  • In Jordan, we provided a financing package for the completion and expansion of Abdali Hospital, helping improve the quality and availability of health care for locals and patients from conflict-affected parts of the region.