INVESTMENT WATCH- IFC on track to invest USD 1 bn in Egypt’s private sector this year: The International Finance Corporation (IFC) announced that it is on track to invest USD 1 bn in Egypt this fiscal year, the IFC said in a statement on Sunday (pdf), citing as a driver Egypt’s proven track record of economic reforms. Details on how the funds would be deployed was scarce. “Egypt has made strong economic reforms, which are bringing the country back to the attention of investors,” said IFC COO Stephanie von Friedeburg. “Reforms in the energy sector, in particular, have helped attract a number of first-time investors and financiers to the country. Continuing reforms will help open up more sectors to private investment, which is vital to boost economic growth,” she added. The announcement follows a meeting between von Friedeburg and Investment Minister Sahar Nasr during the sidelines of the IMF and World Bank Spring Meetings.