"Our priorities are expanding opportunities where they are most needed, maintaining employment, advancing climate goals, enhancing inclusiveness for all by bettering people's services.....

As part of the World Bank Group, the International Finance Corporation (IFC) has named Imad N. Fakhoury as its regional director for South Asia.

Fakhoury, who is based in New Delhi, will be in charge of IFC's operations and strategy while fostering connections with the public and private sectors, regional partners, and governments to increase the region's potential for significant development.

According to a news release, among other things, IFC's focus in South Asia is on offering strategic investments and advising interventions throughout Bangladesh, Bhutan, India, the Maldives, Nepal, and Sri Lanka to support inclusive sustainable growth and promote global and regional integration.

IFC's aims in the area also include boosting competitiveness, narrowing the gender gap, and strengthening capital markets.

"With ongoing global crises, private sector investment is essential to attaining South Asia's development aspirations. IFC will hasten the region's shift to a more sustainable, inclusive, and resilient development model by providing creative and scalable solutions, according to Fakhoury.

"To fully realize the potential of South Asia and pave the way for prosperity, it is essential to promote economic growth and employment creation in the region. The IFC will greatly benefit from Fakhoury's extensive experience in facilitating and expanding private capital mobilization for climate transitions and sustainable infrastructure, according to Riccardo Puliti, Regional Vice President for Asia and the Pacific at the IFC.

"I'm confident his leadership skills and expertise will help further amplify our work, spurring private sector development and contributing to resilient economic growth in the region," said Puliti.
"Our priorities are expanding opportunities where they are most needed, maintaining employment, advancing climate goals, enhancing inclusiveness for all by bettering people's services, and bolstering digital and financial access throughout the area. He continued, "IFC will also assist the area in mainstreaming gender considerations and assisting in the removal of barriers to gender equity in South Asia.

Nearly $3.45 billion in long-term investments in South Asia were made by IFC in FY23; of those, $1.3 billion were raised from other investors.

At the end of 2019, Fakhoury assumed his prior position as Global Director for Infrastructure Finance, PPPs & Guarantees, having joined the World Bank Group in 2019 as a Senior Adviser at IFC.

He served in various ministerial capacities in the Jordanian governments from 2010 to 2018, including Chief of Staff to the King of Jordan, Minister of Mega Projects, Minister of Planning and International Cooperation, and Minister of Public Sector Development.

In addition to serving as co-founder and chair/board member of numerous national strategic infrastructure PPP businesses, governmental organizations, and councils, he was one of the principal architects of Jordan's hallmark PPP transactions.

Fakhoury graduated from Case Western Reserve University with a BSc in Biomedical Engineering and an MSc in Engineering Management. In addition, he has an MBA from Northwestern University's Kellogg Business School and a Master's in Public Policy from the Harvard Kennedy School of Government.

End//voice7news.tv