Imad N Fakhoury, appointed as the Regional Director for South Asia by the International Finance Corporation (IFC), a key member of the World Bank Group, underscores the organization’s commitment to fostering impactful development outcomes in the region. In his pivotal role based in New Delhi, Fakhoury will spearhead IFC’s strategic initiatives and operations, with responsibilities including strengthening relationships with the private sector, governments, and regional partners to drive sustainable economic growth and job creation.
Highlighting the crucial need to stimulate economic growth in South Asia, Riccardo Puliti, IFC’s Regional Vice President for Asia and the Pacific, reportedly expressed confidence in Fakhoury’s leadership. Puliti pointed to Fakhoury’s extensive experience in mobilizing private capital for sustainable infrastructure and climate transitions. Emphasizing the importance of private sector investment in meeting South Asia’s development goals amidst global challenges, Fakhoury outlined IFC’s commitment to innovative and scalable solutions.
IFC’s South Asia focus includes strategic investments in Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka, emphasizing sustainable growth, capital markets, competitiveness, and gender equality. As reported, in FY23, IFC allocated $3.45 billion, with an additional $1.3 billion mobilized. Fakhoury reaffirms commitment to sustainable infrastructure and partnerships for regional resilience. Imad N Fakhoury, joining the World Bank Group in 2019, leverages extensive experience from key ministerial roles in Jordan (2010-2018), particularly in PPP transactions and strategic infrastructure projects.
Fakhoury holds degrees in Biomedical Engineering and Engineering Management from Case Western Reserve University, a Master’s in Public Policy from the Harvard Kennedy School of Government, and an MBA from the Kellogg Business School at Northwestern University. His leadership is anticipated to further elevate IFC’s contributions to sustainable development in the South Asian region.
For more updates, follow Markedium.