ECONOMYNEXT – The International Finance Corporation has appointed Imad N Fakhoury as Regional Director for South Asia, the World Bank Group member said in a statement.
“Private sector investment is key to achieving South Asia’s development goals,” said Fakhoury. “Our focus is on creating opportunities where they are needed most, sustaining jobs, supporting climate goals, improving inclusion for all by improving services for people, and strengthening digital and financial access across the region.”
IFC provides investment and advisory interventions across Bangladesh, Bhutan, India, the Maldives, Nepal, and Sri Lanka.
In 2023, IFC provided nearly 3.45 billion dollars in long-term investments in South Asia, including 1.3 billion dollars mobilized from other investors, according to the statement.
“I look forward to engaging with all stakeholders to ramp up our support for sustainable infrastructure … while empowering small businesses and facilitating public-private partnerships (PPPs) to increase the region’s resilience.”
Fakhoury held several ministerial positions in successive Jordanian governments as Minister of Planning and International Cooperation, Minister of Mega Projects, Minister of Public Sector Development, and Chief of Staff to the King of Jordan.
Fakhoury has a BSc in Biomedical Engineering, an MSc in Engineering Management, a Master’s in Public Policy, and an MBA.
“Fakhoury’s deep experience in enabling and scaling up private capital mobilization for sustainable infrastructure and climate transitions will be a huge asset for IFC,” Riccardo Puliti, IFC’s Regional Vice President for Asia and the Pacific was quoted in the statement. (Colombo/Jan22/2024)