The President of the International Finance Corporation (IFC) in Saudi Arabia, Walid Al-Murshed, said that in case of crises, the International Finance Corporation and the World Bank provide greater financing, and the Corporation and the World Bank have provided $100 billion to the countries owed during the Covid-19 crisis.
He added in an interview with Al-Arabiya, on the sidelines of his participation in the annual meetings of the Islamic Development Bank Group in Sharm El-Sheikh, that we are working with Gulf companies, especially in their expansion in Africa and Asia, and the volume of their financing exceeded $8 billion over the past 10 years.
He pointed to the great demand from Gulf companies, especially Saudi Arabia, to expand regionally and globally in agreement with the Kingdom’s Vision 2030.
Waleed Al-Murshed said that our investments in Saudi Arabia amount to 15 billion riyals and we focus on the privatization process and work with the government to help put companies for privatization, while working with Saudi companies to expand abroad, especially providing private Islamic financing.
He pointed to the interest in sukuk and the issuance of green sukuk by Saudi companies and banks this year.
The head of the International Finance Corporation (IFC) in Saudi Arabia said that work is underway in the field of housing finance and we are working with the Saudi Home Finance Company “Sahel” to issue bonds for housing finance, expected to be of great value.
