The International Finance Corporation (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 the role on July 1, 2026 and will oversee IFC's operations in the region from its office in Dubai, the United Arab Emirates.
In his new position, Fakhoury will supervise IFC's activities across 21 countries with a combined population of about 700 million. He will oversee an active investment portfolio of more than $11 billion. His priorities will include attracting private capital, supporting economic growth, creating jobs, developing the private sector and improving the business environment.
"It is an honor to serve the region at such an important time, drawing on the World Bank Group's global experience in private sector development to mobilize investment and address the most pressing challenges," Fakhoury said. He added that IFC would focus on advancing manufacturing and services, sustainable infrastructure and expanding access to innovative and inclusive finance.
Before his appointment, Fakhoury headed IFC's South Asia department. Earlier, he held senior positions at the World Bank and served as Jordan's minister of planning and international cooperation, minister of public sector development, head of the Royal Hashemite Court and a member of the Jordanian Senate.
Turkmenistan has been a member of the International Finance Corporation, part of the World Bank Group, since 1992. IFC operates in more than 100 countries and is the world's largest global development institution focused on supporting the private sector in emerging markets. In financial year 2025, the corporation committed a record $71.7 billion to private companies and financial institutions.
