IFC Appoints Imad Fakhoury to Lead Middle East and Central Asia

Fakhoury said the region is at a critical stage where stronger private sector participation can help address economic and development challenges.

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has appointed Imad N. Fakhoury as its new Regional Vice President for the Middle East and Central Asia (MCA), effective 1 July 2026. Based in Dubai, United Arab Emirates, Fakhoury will lead IFC's work across a region of nearly 700 million people, with a focus on creating jobs and attracting greater private sector investment.

In his new role, he will oversee IFC's partnerships in 21 countries and manage an active investment portfolio worth more than $11 billion. The region includes economies at different stages of development, where IFC works to improve the business environment, encourage investment, and strengthen private sector growth.

Focus on Investment, Jobs and Economic Resilience

Fakhoury said the region is at a critical stage where stronger private sector participation can help address economic and development challenges. He said IFC will use the World Bank Group's global expertise to mobilize private capital, support economic growth, assist countries recovering from conflict and fragility, and provide practical solutions to pressing issues affecting communities across the region.

He added that expanding quality employment, diversifying economies, supporting reconstruction efforts, and improving resilience to global and regional shocks will remain key priorities. Addressing food security, water availability, energy needs, and access to finance will also be central to IFC's work in the coming years.

The new Regional Vice President highlighted plans to increase investments in manufacturing, services, sustainable infrastructure, and inclusive financial services. These efforts are expected to help countries attract investment, improve competitiveness, and ensure that economic growth creates opportunities for women, young people, and underserved communities.

Experienced Leader with Public and Private Sector Background

A Jordanian national, Fakhoury brings extensive experience in both government and international development. Before taking up the new position, he served as IFC's Division Director for South Asia after joining the World Bank Group in 2019. He also held the role of Global Director of the Infrastructure Finance, Public Private Partnerships and Guarantees Group at the World Bank.

Before joining the World Bank Group, Fakhoury served in several senior positions in Jordan, including Minister of Planning and International Cooperation, Minister of Public Sector Development, Minister of State for Mega-projects, Chief of Staff to King Abdullah II, and a senator. During his public service, he played a leading role in developing the Aqaba Special Economic Zone, advancing major public-private partnership projects, and helping establish several strategic national infrastructure companies.

Fakhoury holds a bachelor's degree in biomedical engineering, a master's degree in engineering management from Case Western Reserve University, a master's in public policy from Harvard University's Kennedy School of Government, and an MBA from Northwestern University's Kellogg School of Management.