The International Finance Corporation (IFC)—a member of the World Bank Group and the Rockefeller Foundation—has allocated $10 million, to support its initiative aimed at enabling the private sector to invest in infrastructure projects in emerging markets, which will help build strong infrastructure and improve access to basic services for poor and marginalized groups.
Waleed Abdulrahman Al-Murshed, IFC’s Country Manager in the Kingdom and Senior Regional Manager for the Middle East and North Africa, said that global investment institutions are keen to invest in infrastructure projects.
The two institutions will work together to secure an additional $90 million from other donors, which is expected to help develop approximately 80 projects around the world. Al-Murshed added that governments need assistance to conclude partnership agreements with the private sector.This initiative is part of a broader collaboration between the Rockefeller Foundation and the International Finance Corporation, aimed at providing the necessary financing for infrastructure projects in emerging markets.
