Middle East Economic Survey


No 23



IFC Investing In New Company To Increase MENA Power Supply

IFC, a member of the World Bank Group, is investing up to $50mn in Creative Energy Resources (CER), which is aiming to address the growing demand for electricity and improve energy reliability in MENA and South Asia. CER is a newly formed holding company promoted by Saudi-based Swicorp Joussour, which has committed up to $100mn to its inception. The plans call for the company to...