IFC's operations in the Middle East and North Africa cover 19 countries, from Morocco in the west to Pakistan in the east.
IFC’s MENA strategy focuses on addressing the region's main challenges, including activities that have a positive impact on employment and improve the enabling environment of the business sector. Efforts to help governments open sectors of their economies and achieve sustainable levels of investment are important in addressing these challenges. In particular, IFC’s strategy aims to:
- Invest in the financial, infrastructure, and small and medium enterprise sectors
- Provide targeted, high-impact advisory services for the financial sector, small and medium enterprises, the business environment, public-private partnerships, and privatizations
- Support investments and advisory services in frontier markets*
- Support economic reform through investment and advice on global best practices
- Promote intra- and inter-regional (South-South) investments—developing country clients wishing to expand to other markets— to accelerate regional economic integration and business expansion
IFC’s advisory services for government entities and client companies also expanded substantially in 2007. From its inception in October 2004 through fiscal year 2007, IFC PEP-MENA has provided about $37.7 million in advisory services.
In support of its strategy, IFC has deployed resources in field offices in 11 countries with about 200 staff and consultants on the ground.
*IFC identifies the following as frontier countries in the MENA region: Afghanistan, Iraq, Pakistan, West Bank and Gaza, and Yemen.