The World Bank's private- sector lending arm plans to increase its investments in the Middle East and North Africa despite the political turmoil that has deterred many investors, its chief executive said on Friday.
The International Finance Corporation (IFC) has set aside about $1.5 billion for 2011, but that figure could rise to $2.5 billion annually by 2014, IFC Vice President and Chief Executive Lars Thunell told Reuters in an interview.
Much of the focus is on improving education, supporting small- and medium-sized enterprises (SMEs) and bolstering infrastructure projects, thereby creating more jobs, Thunell said
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