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IFC to increase investments in Yemen, Iraq, N. Africa
- Middle East: Tuesday, October 09 - 2012 at 03:33
The financial arm of the World Bank has unveiled plans to increase its investments in Yemen, Iraq and North Africa in 2013 to help support development and job creation, Reuters has reported. The International Finance Corp (IFC), which invests in developing the private sector in emerging economies with a special focus on small to medium-sized enterprises (SMEs), sees opportunities in infrastructure, energy, education and healthcare in the Middle East and North Africa (Mena). "Mena is a strategic priority for the IFC," said Dimitris Tsitsiragos, the IFC's vice president for Europe, Middle East and North Africa. "Obviously a lot depends on market conditions but our objective is to keep our programme at the same level and hopefully grow it," Tsitsiragos said.
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