{"id":624166,"date":"2018-09-02T04:12:52","date_gmt":"2018-09-02T04:12:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/ifc-committed-usd-2-bn-in-funding-in-f2017-18\/"},"modified":"2018-09-02T04:12:52","modified_gmt":"2018-09-02T04:12:52","slug":"ifc-committed-usd-2-bn-in-funding-in-f2017-18","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/ifc-committed-usd-2-bn-in-funding-in-f2017-18\/","title":{"rendered":"IFC committed USD 2 bn in funding in F2017-18"},"content":{"rendered":"

IFC committed USD 2 bn in funding to Mideast, North Africa in F2017-18: <\/strong>The International Finance Corporation (IFC) announced last week that it committed a record USD 2 bn in funding to private sector projects in the MENA region in FY2017-18,<\/strong> which ended on 30 June. The organization provided USD 1 bn out of its own accounts and raised another USD 1 bn from other regional investors, it said in a press release<\/a>. \u201c[This] enabled businesses in the region to provide more than 119k jobs, distribute power to about 500k people, and deliver health care to more than 2.9 mn people.\u201d The IFC focused its funding on renewable energy projects, as well as supporting entrepreneurship and the creation of new markets, especially in tech. Egypt\u2019s Benban solar power complex landed some USD 653 mn in funding from the IFC, which plans in FY2019 to \u201cmaintain its strategic focus on creating new markets across MENA by supporting the region\u2019s fast-growing renewable energy sector and helping young entrepreneurs deliver innovations.\u201d<\/p>\n

Meanwhile, Egypt and the IFC signed an MoU on Thursday to support entrepreneurship and startups in Africa<\/strong>, an Investment Ministry statement said.<\/a> The agreement will see the ministry and IFC select 100 promising startups from across the continent \u201cand connect them with business leaders, international investors, financial institutions, and policymakers\u201d at the Business for Africa Forum 2018, which will be held in Sharm El Sheikh from 8-9 December. The IFC has extended approximately USD 65 mn in funding to startups, particularly tech, in the MENA region in the last two years, according to a press release.\u00a0<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

IFC committed USD 2 bn in funding to Mideast, North Africa in F2017-18: The International Finance Corporation (IFC) announced last week that it committed a record USD 2 bn in funding to private sector projects in the MENA region in FY2017-18, which ended on 30 June. The organization provided USD 1 bn out of its […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-624166","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"d3bd7988-6006-4e0f-8aaa-576287e56bf7","order":"0","is_powered_by":true,"section_story_id":"7cfe9c62-722a-4929-b33b-b25588676fc2","story_type":"1","photo_url":"","photo_position":"above","related_issue":[624158],"teaser":"","voice_url":""},"yoast_head":"\nIFC committed USD 2 bn in funding in F2017-18 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/ifc-committed-usd-2-bn-in-funding-in-f2017-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IFC committed USD 2 bn in funding in F2017-18\" \/>\n<meta property=\"og:description\" content=\"IFC committed USD 2 bn in funding to Mideast, North Africa in F2017-18: The International Finance Corporation (IFC) announced last week that it committed a record USD 2 bn in funding to private sector projects in the MENA region in FY2017-18, which ended on 30 June. The organization provided USD 1 bn out of its […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/ifc-committed-usd-2-bn-in-funding-in-f2017-18\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-09-02T04:12:52+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/ifc-committed-usd-2-bn-in-funding-in-f2017-18\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/ifc-committed-usd-2-bn-in-funding-in-f2017-18\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"IFC committed USD 2 bn in funding in F2017-18\",\"datePublished\":\"2018-09-02T04:12:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/ifc-committed-usd-2-bn-in-funding-in-f2017-18\/\"},\"wordCount\":267,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/ifc-committed-usd-2-bn-in-funding-in-f2017-18\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/ifc-committed-usd-2-bn-in-funding-in-f2017-18\/\",\"name\":\"IFC committed USD 2 bn in funding in F2017-18 - 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The amount \u2014 which exceeds\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625603,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/09\/ifc-funding-to-egypt-hits-new-record-of-usd-1-2-bn-in-fy2017-18\/","url_meta":{"origin":624166,"position":1},"title":"IFC funding to Egypt hits new record of USD 1.2 bn in FY2017-18","author":"enterpriseam admin","date":"9 August 2018","format":false,"excerpt":"IFC funding to Egypt hits new record of USD 1.2 bn in FY2017-18: Funding to Egypt from the International Finance Corporation (IFC) reached a new record with USD 1.2 bn in new financing doled out in the FY2017-18 fiscal year, which ended in June, according to a statement from the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627301,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/29\/egypt-accounted-for-nearly-half-of-the-ifcs-mena-investments-in-fy2017-18\/","url_meta":{"origin":624166,"position":2},"title":"Egypt accounted for nearly half of the IFC\u2019s MENA investments in FY2017-18","author":"enterpriseam admin","date":"29 July 2018","format":false,"excerpt":"Egypt accounted for nearly half of the International Finance Corporation\u2019s (IFC) MENA investments in FY2017-18, Chief Investment Officer for the MENA region Deepak Khanna tells Gulf News. Of the USD 2.4 bn the IFC invested across the region throughout the fiscal year, the organization channeled USD 1.3 bn to Egyptian\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":639534,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/31\/the-international-financial-corporation-ifc-is-planning-to-invest-usd-1-5-bn-in-egypt-in-fy2018-19\/","url_meta":{"origin":624166,"position":3},"title":"The International Financial Corporation (IFC) is planning to invest USD 1.5 bn in Egypt in FY2018-19","author":"enterpriseam admin","date":"31 October 2017","format":false,"excerpt":"The International Financial Corporation (IFC) is planning to invest USD 1.5 bn in Egypt in FY2018-19, the IFC\u2019s Vice President of New Business Dimitris Tsitsiragos tells Al Borsa. Renewable energy \u2014 for which the institution pledged a USD 653 mn debt package to this week \u2014 will continue to top\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638254,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/01\/egypt-could-see-usd-1-bn-in-funding-from-the-ifc-this-financial-year\/","url_meta":{"origin":624166,"position":4},"title":"Egypt could see USD 1 bn in funding from the IFC this financial year","author":"enterpriseam admin","date":"1 October 2017","format":false,"excerpt":"Egypt could see USD 1 bn in funding from the IFC this fiscal year: Egypt will be the key beneficiary of a 20% increase in funding the International Finance Corporation (IFC) is planning to provide to the MENA region this year, said the IFC\u2019s MENA director Mouayed Makhlouf. 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