Innovation and inclusion drive impactful, record year for IFC in Asia Pacific | Press Releases | Asia

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Asia Pacific </h1> </div> <div class="eb-article__media"> <figure class="eb-article__featured-image"> <picture> <source media="(min-width: 1300px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 1300px) and (min-resolution: 120dpi)" sizes="1200px" data-srcset="https://eco-business.imgix.net/clients/featured_images/DSCF2603_1400x600.jfif?ar=16%3A10&auto=format&dpr=2&fit=crop&ixlib=django-1.2.0&q=45&width=1200 1200w"> <source media="(min-width: 1300px)" sizes="680px" data-srcset="https://eco-business.imgix.net/clients/featured_images/DSCF2603_1400x600.jfif?ar=16%3A10&auto=format&fit=crop&ixlib=django-1.2.0&q=85&width=1200 1200w"> <source media="(min-width: 740px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 740px) and (min-resolution: 120dpi)" sizes="680px" data-srcset="https://eco-business.imgix.net/clients/featured_images/DSCF2603_1400x600.jfif?ar=16%3A10&auto=format&dpr=2&fit=crop&ixlib=django-1.2.0&q=45&width=680 680w"> <source media="(min-width: 740px)" sizes="680px" data-srcset="https://eco-business.imgix.net/clients/featured_images/DSCF2603_1400x600.jfif?ar=16%3A10&auto=format&fit=crop&ixlib=django-1.2.0&q=85&width=680 680w"> <source media="(min-width: 0px) and (-webkit-min-device-pixel-ratio: 1.25), (min-width: 0px) and (min-resolution: 120dpi)" sizes="95vw" data-srcset="https://eco-business.imgix.net/clients/featured_images/DSCF2603_1400x600.jfif?ar=16%3A10&auto=format&dpr=2&fit=crop&ixlib=django-1.2.0&q=45&width=605 1210w, https://eco-business.imgix.net/clients/featured_images/DSCF2603_1400x600.jfif?ar=16%3A10&auto=format&dpr=2&fit=crop&ixlib=django-1.2.0&q=45&width=340 680w"> <source media="(min-width: 0px)" sizes="95vw" data-srcset="https://eco-business.imgix.net/clients/featured_images/DSCF2603_1400x600.jfif?ar=16%3A10&auto=format&fit=crop&ixlib=django-1.2.0&q=85&width=605 605w, https://eco-business.imgix.net/clients/featured_images/DSCF2603_1400x600.jfif?ar=16%3A10&auto=format&fit=crop&ixlib=django-1.2.0&q=85&width=375 375w, https://eco-business.imgix.net/clients/featured_images/DSCF2603_1400x600.jfif?ar=16%3A10&auto=format&fit=crop&ixlib=django-1.2.0&q=85&width=320 320w"> <img data-src="https://eco-business.imgix.net/clients/featured_images/DSCF2603_1400x600.jfif?ar=16%3A10&auto=format&fit=crop&ixlib=django-1.2.0&q=85&width=320" loading="eager" class=" " alt="Innovation and inclusion drive impactful, record year for IFC in Asia Pacific"> </picture> </figure> </div> <div class="eb-article__social-share"> <div class="eb-share" id="eb-share"> <ul class="eb-share__items"> <li class="eb-share__item"> <a title="Share on Twitter" class="eb-share__item--action eb-share__item--twitter" href="https://twitter.com/intent/tweet?text=Innovation%20and%20inclusion%20drive%20impactful,%20record%20year%20for%20IFC%20in%20Asia%20Pacific&url=https://www.eco-business.com/press-releases/innovation-and-inclusion-drive-impactful-record-year-for-ifc-in-asia-pacific/&via=ecobusinesscom"><svg xmlns="http://www.w3.org/2000/svg" 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<div class="eb-article__sponsor"> <div class="eb-article__sponsor__logo"> <img alt="IFC" src="https://eco-business.imgix.net/clients/company_logos/image001_JfHFPZQ.png?dpr=2&h=140&ixlib=django-1.2.0&q=90&w=140" style="max-width: 140px;"> </div> </div> <div class="eb-article__byline"> <div class="eb-article__byline__author"> <div class="eb-article__byline__author-name"> Published by IFC</div> </div> <div class="eb-article__meta__time"> <time class="eb-article__byline__publish-date" datetime="Nov. 18, 2024, 11:50 a.m.">Nov. 18, 2024</time> </div> </div> </div> <div class="eb-article__body"> <section class="eb-article__body-content"> <p class="x_MsoNormal"><span data-olk-copy-source="MessageBody">IFC’s projects delivered significant impact across Asia Pacific in the last fiscal year, addressing pressing development challenges including climate change, gender inequality, food insecurity, and financial inclusion, while creating jobs and improving services across the region.</span></p> <p class="x_MsoNormal">IFC, the largest global development institution focused on the private sector in emerging markets and a member of the World Bank Group, committed a record US$12.2 billion to 123 projects in Asia Pacific in the fiscal year ending June 30, an 11 per cent year-on-year increase. This comprised US$6.2 billion in long-term financing from its own account, US$3.3 billion in mobilisation, and US$2.7 billion in short-term trade and supply-chain finance to facilitate trade flows. </p> <p class="x_MsoNormal">Thirty-six per cent of long-term financing from IFC’s own account was invested in projects that will help tackle climate change and marine-plastic waste.</p> <p class="x_MsoNormal">This included investments in the <a title="https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=28239" href="https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=28239" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="1">first blue bond</a> and <a title="https://www.ifc.org/en/pressroom/2023/vietnams-first-local-currency-sustainability-linked-bonds-to-boost-economy-support-climate-goals" href="https://www.ifc.org/en/pressroom/2023/vietnams-first-local-currency-sustainability-linked-bonds-to-boost-economy-support-climate-goals" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="2">first local currency sustainability-linked bonds in Viet Nam</a>, <a title="https://www.ifc.org/en/pressroom/2024/ifc-to-finance-brookfields-bikaner-solar-power-project-boost-ind#:~:text=%E2%80%8BNew%20Delhi%2C%20India%2C%20June,%22Brookfield%22)%20with%20%24105%20million" href="https://www.ifc.org/en/pressroom/2024/ifc-to-finance-brookfields-bikaner-solar-power-project-boost-ind#:~:text=%E2%80%8BNew%20Delhi%2C%20India%2C%20June,%22Brookfield%22)%20with%20%24105%20million" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="3">the first distributed generation financing through corporate power purchase agreements in India</a>, sustainability-linked loans to finance <a title="https://www.grasim.com/media/press-releases/grasim-raises-its-first-sustainability-linked-non-convertible-debentures-from-the-international-finance-corporation" href="https://www.grasim.com/media/press-releases/grasim-raises-its-first-sustainability-linked-non-convertible-debentures-from-the-international-finance-corporation" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="4">industrial decarbonisation in India</a> and green buildings in <a title="https://www.capitaland.com/en/about-capitaland/newsroom/news-releases/international/2024/may/CLINT_secures_SGD200_million_sustainability_linked_loan_from_IFC.html" href="https://www.capitaland.com/en/about-capitaland/newsroom/news-releases/international/2024/may/CLINT_secures_SGD200_million_sustainability_linked_loan_from_IFC.html" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="5">India</a> and <a title="https://www.ifc.org/en/pressroom/2024/ifc-partners-with-ayala-land-on-its-first-sustainability-linked-financing-boosting-the-market-for-green-buildings-in-the-philippines" href="https://www.ifc.org/en/pressroom/2024/ifc-partners-with-ayala-land-on-its-first-sustainability-linked-financing-boosting-the-market-for-green-buildings-in-the-philippines" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="6">the Philippines</a>, a <a title="https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=28195" href="https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=28195" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="7">green data centre in Malaysia</a>, as well as <a title="https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=27995" href="https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=27995" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="8">the first fund to combine public, private and philanthropic capital with a specialised focus on clean-energy investments in Southeast Asia.</a></p> <p class="x_MsoNormal">IFC provided financing and advisory services to financial institutions across the region that are expected to improve access to finance for micro, small and medium-sized enterprises (MSMEs) through the provision of more than two million loans. Projects included the <a title="https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=28292#:~:text=The%20bond%20proceeds%20will%20be,smaller%20companies%20in%20Mongolia%20%2D%20in" href="https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=28292#:~:text=The%20bond%20proceeds%20will%20be,smaller%20companies%20in%20Mongolia%20%2D%20in" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="9">first social bond in Mongolia</a><u>, </u>the <a title="https://www.ifc.org/en/pressroom/2024/ifc-ramps-up-investment-in-india-to-drive-financial-inclusion-create-jobs-and-unlock-climate-finance" href="https://www.ifc.org/en/pressroom/2024/ifc-ramps-up-investment-in-india-to-drive-financial-inclusion-create-jobs-and-unlock-climate-finance" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="10">first offshore asset-backed securitisation</a> by an Indian non-bank financial institution, and the <a title="https://www.ifc.org/en/pressroom/2024/ifc-s-56-million-investment-in-global-ime-bank-to-bolster-gender" href="https://www.ifc.org/en/pressroom/2024/ifc-s-56-million-investment-in-global-ime-bank-to-bolster-gender" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="11">first gender and climate financing</a> by a development financial institution in Nepal, all aimed at supporting MSME lending.</p> <p class="x_MsoNormal">Fifty-two per cent of long-term financing projects included a focus on improving gender equality. Projects included an <a title="https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=28029" href="https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=28029" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="12">equity investment as a cornerstone investor in an initial public offering of a Thai bank</a> to help develop new products for smaller women-owned or led businesses and <a title="https://www.ifc.org/en/pressroom/2024/ifc-extends-us500-million-to-hdfc-bank-to-ramp-up-microloans-to-underserved-women-borrowers-in-india#:~:text=New%20Delhi%2C%20India%2C%20May%2017,income%20generation%20purposes%2C%20fostering%20financial" href="https://www.ifc.org/en/pressroom/2024/ifc-extends-us500-million-to-hdfc-bank-to-ramp-up-microloans-to-underserved-women-borrowers-in-india#:~:text=New%20Delhi%2C%20India%2C%20May%2017,income%20generation%20purposes%2C%20fostering%20financial" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="13">supporting India’s largest private-sector bank to extend microloans under an initiative exclusively focused on women borrowers</a>.</p> <p class="x_MsoNormal">Twenty-six per cent of long-term financing projects were in low-income, fragile, and conflict-affected countries across the region, including <a title="https://www.ifc.org/en/pressroom/2022/ifc-brac-bank-partner-to-launch-bangladeshs-first-ever-housing-b#:~:text=In%20a%20first%20for%20the,in%20construction%20and%20related%20industries." href="https://www.ifc.org/en/pressroom/2022/ifc-brac-bank-partner-to-launch-bangladeshs-first-ever-housing-b#:~:text=In%20a%20first%20for%20the,in%20construction%20and%20related%20industries." target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="14">an investment in Bangladesh’s first-ever housing bond</a>, intended to improve affordable housing for women in Bangladesh, and a program in Papua New Guinea to help women enter and excel in sectors where they have been historically underrepresented.</p> <p class="x_MsoNormal">A pivotal outcome of IFC’s work in the region is the creation of economic opportunities, with FY24 investments estimated to create up to 570,000 direct and indirect jobs.</p> <p class="x_MsoNormal">“Amid persistent and intertwined global challenges, IFC is resolved to foster innovation and deliver more sustainable private sector solutions across the Asia Pacific,” said Riccardo Puliti, IFC’s Regional Vice President for Asia Pacific. “The private sector continues to play a key role in addressing urgent development needs of countries in the region. Our projects this last financial year reinforce IFC’s commitment to offering targeted solutions that can be implemented at scale to maximise impact, ultimately improving lives and livelihoods across the Asia Pacific.”</p> <p class="x_MsoNormal">Setting a precedent in innovative financial solutions, <a title="https://www.ifc.org/en/pressroom/2023/goto-partners-with-ifc-to-drive-sustainable-business-and-financial-inclusion-across-indonesia" href="https://www.ifc.org/en/pressroom/2023/goto-partners-with-ifc-to-drive-sustainable-business-and-financial-inclusion-across-indonesia" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="15">IFC also invested in an Indonesian ride-hailing, e-commerce and financial services company</a> using a mezzanine equity investment structure. The investment will ensure more people can benefit from the digital economy. In Bangladesh, <a title="https://www.ifc.org/en/pressroom/2024/ifc-s-first-usd-working-capital-loan-in-bangladesh-to-boost-priv" href="https://www.ifc.org/en/pressroom/2024/ifc-s-first-usd-working-capital-loan-in-bangladesh-to-boost-priv" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="16">IFC also provided flexible U.S. dollar-denominated working capital funding in the pharmaceutical and food processing sectors</a> to address a critical foreign exchange shortage in the country.</p> <p class="x_MsoNormal">In the pharmaceutical sector, IFC also made investments to enhance healthcare access and resilience in <a title="https://www.thedailystar.net/business/news/renata-sign-deal-ifc-60-million-loan-3643146" href="https://www.thedailystar.net/business/news/renata-sign-deal-ifc-60-million-loan-3643146" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="17">Bangladesh</a> and <a title="https://www.sunshineholdings.lk/2024/proposed-investment-of-up-to-lkr-3-270-million-from-ifc-in-sunshine-healthcare-lanka-limited" href="https://www.sunshineholdings.lk/2024/proposed-investment-of-up-to-lkr-3-270-million-from-ifc-in-sunshine-healthcare-lanka-limited" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="18">Sri Lanka</a>, supporting the growth of pharmaceutical manufacturing capacity and expanding retail footprints to create sustainable supply chains.</p> <h4 class="x_MsoNormal"><strong>About IFC</strong></h4> <p class="x_MsoNormal">IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record US$56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions, and mobilising private capital to create a world free of poverty on a livable planet. For more information, visit <a title="http://www.ifc.org" href="http://www.ifc.org/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" data-linkindex="19">www.ifc.org</a></p> <div class="eb-item eb-item--no-image eb-item--cta-mobile eb-item--cta-tablet eb-item--cta-eb-premium" data-item-num="6"> <div class="eb-item__container"> <div class="eb-item__content"> <div class="eb-item__header"> <h3 class="eb-item__title"> Publish your content with EB Publishing </h3> <p class="eb-item__cta-description">It's about who you reach. 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