The International Finance Corporation, the World Bank Group's private-sector arm, has appointed Khawaja Aftab Ahmed as Regional Director for the Middle East, Pakistan, and Afghanistan.

Ahmed will lead IFC's efforts to increase private sector participation in the economy to create jobs, address the climate crisis, close the infrastructure gap, foster financial inclusion, and support fragile and conflict-affected situations, the institution said in a statement. 

“The public sector can no longer be the main provider of jobs in the region, especially today, given the deep fiscal constraints facing most governments in the wake of COVID-19,” said Ahmed. “I am excited to lead IFC’s efforts to support private sector clients, spur innovation, and create positive, lasting impact in such a critical region.”

Ahmed from Pakistan, has 33 years of development banking experience. At IFC, he has held several managerial positions, most recently serving as Global Director of Investment and Credit Risk. Before that, he led IFC's work with financial institutions and private equity funds in the Middle East, North Africa, and Europe.

In the Middle East, Afghanistan, and Pakistan, IFC supports the growth of the private sector through a combination of investments and advisory services. Its portfolio in the region is valued at $3.4 billion and is spread across 139 companies. 

(Writing by Seban Scaria; editing by Daniel Luiz)
seban.scaria@lseg.com