Lars H. Thunell, executive vice president and CEO of the International Finance Corporation (IFC), a WBG member that provides loans and equity financing for private sector projects, was visiting BRJ.
Thunell was welcomed by BRJ’s chief job creator Mohammed Abdul Latif Jameel and Saad Attiya Al-Ghamdi, senior deputy president of Abdul Latif Jameel Group (ALJ).
During the visit, Thunell toured various BRJ divisions and met staff. He also received information about the programs and activities provided by the organization.
Sadish Cool, ALJ’s finance manager, introduced a brief presentation about his organization and its operations throughout the world, while Ibrahim Badawood, executive director of ALJ Community Initiatives, introduced an extensive presentation about BRJ activities in Saudi Arabia and the rest of world.
Thunell expressed his desire to discuss possibilities of cooperation between IFC and BRJ. He said IFC is seeking to support sustainable community development initiatives as one of its main objectives.
Jameel expressed appreciation at the visit of Thunell, saying that cooperation with the IFC would help expand the number of BRJ beneficiaries locally and globally.
He added that BRJ is seeking to create 45,000 job opportunities in Saudi Arabia, with ambitions to increase this number to 80,000 in 2010.
Established in 1956, the IFC promotes sustainable private sector initiatives and investments in developing countries. It is the largest multilateral source of loan and equity financing for private sector productive projects in the developing world. IFC membership includes 182 of the UN member countries.
