IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org and www.ifc.org/africa.

IFC committed $5.6 billion to private sector development in the Middle East and sub-Saharan Africa in fiscal year 2020, supporting businesses across the two regions to launch, grow, provide jobs and fight the impacts of the global COVID-19 pandemic. In addition to its investments in the Middle East and Africa, IFC provided Advisory Services totaling more than $590 million to nearly 376 projects aimed at improving the business environment, investment policy and promotion, and creating markets in priority sectors.

IFC has been engaging in Somalia on advisory program since 2015 to improve the country’s overall investment climate. IFC’s main areas of engagement include unlocking private investment
in the prioritized sector by addressing key regulatory, administrative, and institutional reforms - undertaken both at an economy-wide level, i.e., business regulatory reforms and enhancing trade transparency as well as Public Private Partnership while at sectoral level support to the formalization of the Energy, ICT, and Financial sectors.