Cairo, Egypt, November 25, 2015—Energy
and infrastructure projects financed by IFC, a member of the World Bank
Group, helped increase regional power generation capacity by more than10,000
gigawatts and deliver power to nearly 11 million people in 2014.
IFC’s clients delivered power to 10.7
million customers in the Middle East and North Africa in 2014, compared
to 1.3 million in 2013. The sevenfold increase follows IFC investments
in Pakistani companies Engro Energy, Laraib Energy and Zorlu Pakistan;
Acwa Power Jordan; and Dubai-based Sakr Energy Solution FZCO.
In line with its commitment to mitigate
the effects of climate change, IFC has committed $454 million in the renewable
energy sector in MENA since 2009. Projects include a 117 megawatt wind
farm in Tafila, Jordan, the first wind farm run by a private company in
the country, a series of renewable plants in Pakistan that is expected
to provide power to 11 million people, and a 510 megawatt solar plant in
Morocco, one of the world’s largest such facilities.
IFC also finalized an innovative $207.5
million debt package to fund the construction of seven solar photovoltaic
plants in Jordan that will boost the country’s use of renewables and help
transform its energy sector. The project is the largest private sector-led
solar initiative in the Middle East and North Africa.
IFC, a member of the World Bank Group,
is the largest global development institution focused on the private sector
in emerging markets. Working with more than 2,000 businesses worldwide,
we use our capital, expertise, and influence to create opportunity where
it’s needed most. In FY15, our long-term investments in developing countries
rose to nearly $18 billion, helping the private sector play an essential
role in the global effort to end extreme poverty and boost shared prosperity.
For more information, visit www.ifc.org