(MENAFN) International Finance Corp (IFC) announced completing a USD100 million equity investment in Saudi-based ACWA Power, a water and power project developer, Arabian Business reported.
IFC said that this investment will improve the amount of funding given for renewable energy projects, which will help the growing power demands in the Middle East and Africa region.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries.
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