The International Finance Corporation (IFC), a member of the World Bank Group, Sunday appointed Walid Labadi as IFC's regional director for Egypt, Libya, and Yemen, aiming to boost economic growth in these countries.

Labadi previously held the position of senior legal adviser in 2015 and worked, over the past twenty years, in the field of economic development in more than 300 projects.

As a regional director, Labadi will oversee IFC investments, as well as its advisory services program in the three countries.

IFC investments in Egypt reached $ 2.9 billion in 2016-2017. In the succeeding fiscal year, IFC invested about $146 million in the sectors of banking, insurance, infrastructure and technology.

Source : Mena