Marking two year of progress and lessons learned

Today marks just over two years since I started my new role as IFC’s Regional Director for the #MiddleEast, #Pakistan, and #Afghanistan.

When I first moved to #Jordan from Washington, D.C., the region was still grappling with the aftermath of the pandemic and Russia’s invasion of Ukraine, and over the last year new crises and conflicts hit closer to home.

Despite the challenges, thanks to an extraordinary team of resilient and dedicated professionals, we turned IFC’s small country office into a dynamic regional hub. It has been such an inspiring and rewarding journey, marked by all the things we’ve accomplished together and, on a more personal level, by great new friends—the most I’ve ever made in such a short period of time!

Here are five of my biggest takeaways so far.

We’ve seen firsthand in the five fragile and conflict-affected situations in our region that there is never a ‘one size fits all’ solution. From our investments in #Yemen’s food security and #Iraq’s manufacturing industry to our support for #Palestinian startups, we know that the more partners we mobilize, the more substantive our impact becomes. Blended finance lies at the heart of this as it helps de-risk projects and unlock more capital from investors.

What struck me when I moved to the region was that Jordan has one of the lowest participation rates of women in the workforce. I’m pleased we are using our convening power to help address this missed opportunity head-on—including the limited funding for women-led startups and the lack of childcare solutions that would allow more women to work. We are making progress with initiatives such as ‘She Wins’, which supports female entrepreneurs in MENA, and ‘Care Arabia’, which supports the growth of nurseries. Yet, much more needs to be done…

This is best exemplified through Public-Private Partnerships (PPPs) for airports. Jordan’s Queen Alia airport and the Madinah airport and Haj Terminal in Saudi Arabia are proof of the transformational power such partnerships can have. We are working on replicating this successful PPP model by advising the governments of Iraq and Pakistan on the Baghdad and Islamabad airports, respectively. One of the most moving moments I had was when we were invited to mark the first haj flight to the Madinah Airport, the gateway for millions of pilgrims, after we helped rebalance its concession following the pandemic.

This is a challenging region, but it means our impact can be much greater as a result. And that impact must come from the private sector because there is simply not enough fiscal space in the public sector. This can be a win-win for all, especially when it comes to opportunities in renewable energy, water sustainability, and creating jobs through small businesses. A great number of?opportunities also lie in linking market needs to education given the region’s high unemployment rates, especially among young people.

To be exact, it’s about the nearly 250 people in my team, who represent more than 50 nationalities,?bring enormous experience and expertise, put their hearts and souls into everything we do, and remain resilient and focused even in the most challenging of times. I could not be more thankful to all of them, and I am deeply humbled to be working alongside such an extraordinary team.

Here's to the next two years and to continuing to do what we know best: striving for lasting impact by tapping into the power of the private sector.?

IFC Middle East