IFC invests $1.2 bn in 18 projects in Egypt from 2011-15

The International Finance Corporation (IFC), a member of the World Bank Group, has invested US$1.2 billion in 18 projects in Egypt from 2011 to 2015.

This was part of IFC efforts to secure jobs and help achieve sustainable development in Egypt, according to a Monday statement by the corporation.

The IFC bankrolled projects in the financial, infrastructure, petroleum and gas sectors, said IFC director in Egypt Nada Shousha.

She also mentioned agricultural, industrial and health care projects.

Those projects were established in partnership with other parties, Shousha noted.

IFC is the largest global development institution focused exclusively on the private sector in developing countries. It offers investment, advisory, and asset management services to encourage private sector development in developing countries.

Source: MENA & Egypt Independent