IFC Appoints New Vice President for Middle East and Central Asia

Tashkent, Uzbekistan (UzDaily.uz) — IFC, a member of the World Bank Group, has appointed Imad N. Fakhoury as Regional Vice President for the Middle East and Central Asia. He assumed office on 1 July 2026.

Fakhoury will be based in Dubai and will oversee IFC operations aimed at driving job creation, mobilizing private capital, and fostering private sector development across a region home to nearly 700 million people. In his new position, he will also be responsible for developing partnerships in 21 countries and managing an active project portfolio valued at more than US$11 billion.

Commenting on his appointment, Fakhoury stated his intention to leverage the global expertise of the World Bank Group to support private sector development, attract investment, accelerate economic growth, and assist nations confronting crises. According to him, operational priorities will focus on creating quality jobs, diversifying economies, supporting the recovery of conflict-affected states, strengthening resilience to external challenges, and helping address problems in the food, water, energy, and financial spheres.

He also emphasized the importance of scaling up investments in manufacturing industries, services, sustainable infrastructure, and innovative financial solutions. Special attention, he noted, will be given to improving the competitiveness of economies and ensuring inclusive growth, including by expanding opportunities for women, youth, and underserved populations.

Imad N. Fakhoury is a Jordanian national with extensive experience in both the public and private sectors. Prior to his new appointment, he led IFC's division for South Asia. Fakhoury joined the World Bank Group in 2019, where he served as Global Director for Infrastructure Finance, Public-Private Partnerships, and Guarantees.

Previously, he held a number of high-ranking public offices in Jordan, including the posts of Minister of Planning and International Cooperation, Minister of Public Sector Development, Minister for Mega-projects, Chief of Staff to King Abdullah II, and Senator in the country's parliament. Additionally, Fakhoury managed the creation of the Aqaba Special Economic Zone and participated in the implementation of major public-private partnership projects.

IFC is the largest international development institution focused on supporting the private sector in emerging markets. The organization operates in more than 100 countries. In fiscal year 2025, IFC delivered a record US$71.7 billion in financing to private companies and financial institutions in developing states.