IFC and IDB Invest US$100 Million to Support Infrastructure Development in MENA (MENA)
IFC and Islamic Development Bank (IDB) are investing up to US$100 million to support the construction of infrastructure projects across the Middle East and North Africa. The organizations are each investing US$50 million in the Arab Infrastructure Investment Vehicle (AIIV), which is expected to grow to between US$300 million and US$500 million. AIIV will be managed by EMP AIM, a new vehicle established by individual partners of emerging markets-focused fund manager EMP Global LLC. EMP AIM will be advised by Africa-focused private equity fund manager Emerging Capital Partners.