Middle East and North Africa Private Sector Development Program
IFC has embarked on a regional partnership with the Government of the Netherlands to support development across the MENA region, where the local economic problems and unrest have been exacerbated by COVID-19.
The $70 million IFC-Netherlands partnership includes a dedicated $22 million blended finance facility, Alafaq Aljadida (New Horizons), to help reduce the risk profile of projects with high development impact in the MENA region. The blended concessional finance investment component aims to catalyze private sector investments in potentially high-impact projects that are on the threshold of commercial viability, and deepen and expand IFC’s efforts in MENA into new and emerging areas – new horizons – by catalyzing innovative investments and unlocking private financing in eligible Program countries. Eligible countries of the Program are Iraq, Jordan, Tunisia, Egypt, the West Bank and Gaza, Algeria, Morocco, and Yemen.
The Alafaq Aljadida is a multisector facility that can support projects across industries and themes (e.g. renewable energy and climate, water, education, healthcare, agribusiness, building materials and chemicals sectors, microfinance, SME finance, access to finance, trade finance etc.)