The World Bank has deemed it necessary to help the MENA region rebuild from the aftermath of the Arab Spring with an investment of half a billion dollars. The bank is trying to raise the fund through one of its unit, the International Finance Corporation, which focuses on investments in developing the private sector in emerging economies, provides loans, equity investments and advisory services to companies, with a much a more dedicated interest to the small and medium-sized enterprises.
In the region alone, the corporation has made an investment of more than $2.4 million in the last dozen of months but the corporation is now trying to manage third-party money because it can’t simply satisfy the investments demands according to its Regional Director because it still continues to rise.
Although many countries such as Morocco, Tunisia, Egypt and Jordan were affected by the Arab spring and giving the fact that the requests for financing has been climbing up the ladder, the corporation now finds itself in a cash strapped situation and needs a much bigger association.
In one of its joint partnership’s with the World Bank and the International Development Bank to help in beginning the major infrastructure projects by investing a $100 million each, whilst the corporation also provided a $100 million loan for reconstruction of Iraq after the war.
The corporation has provided an equity investment at Orascom Industries, a $200 million loan to the latter’s Fertilizers Company, an investment of $110 million with Hikma Pharmaceuticals and $170 million subordinated loan agreement with Oman’s Bank Muscat.
Rising funds for MENA region
