Egypt Gets Most of IFC’s Record $2.4 Billion Financing for MENA

International Finance Corporation (IFC), which is a member of the World Bank, financed a record $2.4 billion (Dh8.8 billion) to companies in the Middle East in the year to June, with nearly half of the money being sent to Egypt.

IFC, which offers investment, advisory, and asset-management services to companies in developing economies, made investments in a slew of sectors including solar, agri-business, micro-financing, oil and gas sector among others in Egypt, Iraq, Jordan, and Lebanon in the Middle East.