The investment portfolio of the International Finance Corporation (IFC), the private sector arm of the World Bank, shows that its cumulative gross investments in Lebanon reached $2.3bn as at the end of fiscal year 2012/2013.
The IFC's gross investments in Lebanon accounted for 12.7% of its investments in the Middle East & North Africa region and for 1.3% of its investments worldwide. Lebanon was the third largest recipient of IFC investments among 16 MENA countries, behind Pakistan ($5bn) and Egypt ($3.4bn).
The amount of commitments allocated to Lebanon consists of $2.1bn in IFC funds and $230m from co-investors through the purchase of interests in IFC investments. The IFC indicated that it has invested in 35 companies in Lebanon as at end-June 2013, which accounts for 7.3% of its invested firms in the MENA region and for 0.7% of the number of firms worldwide included in IFC's portfolio.
In parallel, IFC's commitments in Lebanon totaled $459.7m during FY2013 and targeted six banks and two companies. In 2010, the IFC purchased an 8.36% equity stake in Byblos Bank sal.
Lebanon This Week – Byblos Bank