IFC appoints Imad Fakhoury as Regional Director for South Asia

The International Finance Corporation (IFC), a member of the World Bank Group, appointed Imad N. Fakhoury as its Regional Director for South Asia.
Based in New Delhi, Fakhoury will spearhead the IFC’s strategy and operations, while reinforcing relationships with the private sector, governments and regional partners, to boost impactful development outcomes in the region.

According to the new South Asia Director, private sector investment is key to achieving the region’s development goals, amid persisting global crises. The IFC will help accelerate the region’s transition to a greener, more inclusive and resilient development model by offering innovative and scalable solutions, said Fakhoury. 
“Our focus is on creating opportunities where they are needed most, sustaining jobs, supporting climate goals, improving inclusion for all by improving services for people and strengthening digital and financial access across the region. The IFC will also support the region to mainstream gender considerations and help remove obstacles to gender equity in South Asia,” 
said Fakhoury.
In FY23, the IFC provided nearly US $ 3.45 billion in long-term investments in South Asia, including US $ 1.3 billion mobilised from other investors.
Fakhoury noted that with the recently concluded COP28, the IFC is prioritising both climate investments and delivering impactful outcomes to help countries achieve their 
climate targets. 

“I look forward to engaging with all stakeholders to ramp up our support for sustainable infrastructure—encompassing mitigation and adaptation as well as digital connectivity—while empowering small businesses and facilitating public-private partnerships (PPPs) to increase the region’s resilience,” he said. 
Fakhoury joined the World Bank Group in 2019 as a Senior Adviser at the IFC and moved into his previous role as Global Director for Infrastructure Finance, PPPs and Guarantees, at the end of 2019. From 2010-2018, he held several ministerial positions in successive Jordanian governments as Planning and International Cooperation Minister, Mega Projects Minister, Public Sector Development Minister and Chief of Staff to the King of Jordan.

Fakhoury has a BSc in Biomedical Engineering and an MSc in Engineering Management from Case Western Reserve University. He also holds a Master’s in Public Policy from the Harvard Kennedy School of Government and an MBA from the Kellogg Business School at Northwestern University. 
One of the key architects of flagship PPP transactions in Jordan, he also served as a co-founder and chair/board member in several national strategic infrastructure PPP companies, public organisations and councils.
The IFC’s focus in South Asia centres on providing strategic investments and advisory interventions across Bangladesh, Bhutan, India, the Maldives, Nepal and Sri Lanka, to promote inclusive sustainable growth and encourage global and regional integration, among others. Strengthening capital markets, increasing competitiveness and closing the gender gap are also among the IFC’s priorities in the region.