News dalla rete ITA

11 Marzo 2019



The International Finance Corporation (IFC), the private sector arm of the World Bank Group, signed a memorandum of understanding with FFA Private Bank Sal, with the aim to improve infrastructure services in Lebanon and the Levant and Africa regions.The IFC will provide technical and advisory assistance to the bank to set up and operate a $100 mln mezzanine infrastructure fund. The fund will invest in infrastructure projects in Lebanon, including in the power, utilities and transportation sectors. The IFC will support the bank to structure the fund in accordance with best international practices.The IFC considered that investing in infrastructure, a labor-intensive industry, could stimulate growth across several sectors including construction, logistics, manufacturing and trade. It added that Lebanon has strong potential, but several challenges such as electricity shortages, hold back its economic growth.The IFC committed $709 mln in Lebanon, excluding the country's share from regional and global projects, during the fiscal year that ended on June 30, 2018 and relative to $457 mln in FY2016/17. Lebanon represented the third largest country exposure for the IFC in the Middle East & North Africa region in FY2017/18, behind Egypt ($1.4 bln) and Jordan ($913 mln). (ICE BEIRUT)

Fonte notizia: LEBANON THIS WEEK - Byblos Bank-Issue 575