IFC, a member of the World Bank Group, has appointed Imad N. Fakhoury as Regional Director for South Asia. Fakhoury, based in New Delhi, will lead IFC’s strategy and operations in the region, strengthening ties with the private sector, governments, and regional partners to enhance development outcomes.
Riccardo Puliti, IFC’s Regional Vice President for Asia and the Pacific, highlighted Fakhoury’s expertise in private capital mobilization for sustainable infrastructure and climate transitions, emphasizing the pivotal role in driving economic growth and job creation in South Asia. Puliti expressed confidence in Fakhoury’s leadership skills contributing to resilient economic growth.
IFC’s focus in South Asia encompasses strategic investments and advisory interventions across countries such as Bangladesh, Bhutan, India, the Maldives, Nepal, and Sri Lanka. The organization aims to foster inclusive sustainable growth, promote global and regional integration, strengthen capital markets, enhance competitiveness, and address gender disparities.
Imad N. Fakhoury emphasized the importance of private sector investment in achieving South Asia’s development goals amid global challenges. He stressed IFC’s commitment to offering innovative and scalable solutions for a greener, more inclusive, and resilient development model. Fakhoury outlined IFC’s dedication to creating opportunities, sustaining jobs, supporting climate goals, improving inclusion, and expanding digital and financial access in the region.
In the fiscal year 2023, IFC provided nearly $3.45 billion in long-term investments in South Asia, including $1.3 billion mobilized from other investors. Fakhoury acknowledged IFC’s commitment to climate investments and delivering impactful outcomes post-COP28. He expressed eagerness to collaborate with stakeholders, focusing on sustainable infrastructure, empowering small businesses, and facilitating public-private partnerships to enhance the region’s resilience.
Imad N. Fakhoury joined the World Bank Group in 2019 and previously served as Global Director for Infrastructure Finance, PPPs & Guarantees. Prior to his World Bank tenure, Fakhoury held ministerial positions in Jordan from 2010-2018, contributing significantly to flagship PPP transactions and national strategic infrastructure projects. Fakhoury holds degrees in Biomedical Engineering, Engineering Management, Public Policy, and an MBA.
