Thursday, March 28, 2024 UTC

Recognized by industry leaders for extensive coverage on African Asset Management

News > Private Equity > Fundraising

IFC MENA Fund raises $125m

Africa Global Funds
July 9, 2015, midnight
422

Word count: 209

The IFC Middle East and North Africa (MENA) Fund has raised $125m from IFC, a member of the World Bank Group, the Arab Fund for Economic and Social Development, the Arab Investment Company and the Arab Petroleum Investment Corporation.

Choose ONE Magazine and TWO Articles for FREE when you register an account
Share:

The IFC Middle East and North Africa (MENA) Fund has raised $125m from IFC, a member of the World Bank Group, the Arab Fund for Economic and Social Development, the Arab Investment Company and the Arab Petroleum Investment Corporation.

Jin-Yong Cai, IFC Executive Vice President and CEO, said: “The Middle East and North Africa region is crucial to global prosperity and economic stability – the need for investment there has never been greater.”

“The investments in the IFC Middle East and North Africa Fund demonstrate improving investor confidence as well as greater investment opportunity. IFC is committed to investing in companies that grow and innovate, and the Fund will promote economic development while aiming to achieve strong returns for its investors,” he said.

The Fund will provide equity financing to private companies to help spur growth and development.

The Fund’s primary investment focus will be on growth opportunities in infrastructure, manufacturing and financial sectors, investing alongside IFC.

IFC said that through its investments in the financial and real sectors, it is expected that the fund will help increase employment opportunities in the region especially for the young.

The IFC MENA Fund will also help add value to its portfolio companies, particularly in areas such as corporate governance, risk management processes, and environmental and social standards.

Registration Login
Sign in with social account
or
Lost your Password?
Registration Login
Sign in with social account
or
Registration Login
Registration