International Finance Corp plans to support agricultural projects to help boost food production.
The International Finance Corp plans to focus on supporting investment in agricultural projects in Arab countries to help boost food production, a senior manager at the World Bank unit said.
“We’ve been giving a great emphasis to infrastructure and financing projects in past years, now we want to fund more agricultural projects,” Walid Al Murshed, Saudi country for the IFC, said in a telephone interview on Friday.
The IFC invested around $2 billion to support foreign direct investment between Arab countries over the past three years, he added.
Around 39 percent of the investment was directed to infrastructure projects and 38 percent went to financial investment, Al Murshed said.