IFC commits up to $200 million to IFC Emerging Asia Fund with investors from Fiji and Korea

IFC, a member of the World Bank Group, has committed up to US$200 million to the IFC Emerging Asia Fund (EAF), which has reached a first close. IFC is joined by the Korea Development Bank (KDB) and the Fiji National Provident Fund (FNPF). Central to the EAF is mobilizing additional capital in emerging markets of the Asia region, given the scale of investment, innovation, technological development and employment creation required for sustainable development in many low and middle income countries in the region falls beyond the range of the public sector, making the private sector central to finding and financing the development solutions that are needed.   Investments by the EAF will be aligned to IFC’s strategy for the region, which includes a focus on addressing the infrastructure deficit, and at the same time it will also help investee companies raise standards, improve risk mitigation and generate value.   The new global architecture for international development, the Sustainable Development Goals, launched at the United Nations in 2015, highlights that financing sustainable development requires low and middle income countries tap new sources of capital from both private and public sources, including leveraging global private capital to most skillful effect. Two thirds of the world’s poorest people live in emerging Asia and yet it is the engine room of global growth being the fastest growing region and the largest continental economy by GDP in the world. This growth is a function of favorable dynamics such as the continued need for enhanced infrastructure, the emergence of a rapidly growing middle class and commitments by many governments in the region to political and economic reform.  Combined, these dynamics have created significant opportunities for investment in the region including China, India, Indonesia, Philippines and Asian frontier markets such as Vietnam and Myanmar.  Read more

Umbulan water PPP signed in Indonesia

The East Java administration of Indonesia and private consortium PT Meta Adhya Tirta Umbulan, formed by Medco Gas Indonesia and construction firm Bangun Cipta Kontraktor, have signed the contract for the Umbulan Drinking Water Supply System PPP project. Read more

Eight projects selected for ASEAN PPP pipeline

The short listed projects were derived from regional and national infrastructure priority pipelines which were subjected to selection methodologies covering a range of criteria pertaining to strategic relevance, level of project development, project feasibility, complexity of implementation and fiscal impact. The short-listing process was conducted through desk review of projects based on available information and consultations with concerned public and private sector officials from the Member States, multilateral and bilateral development organizations and other relevant information sources. Read more

ADB loans $500 M to Indonesia for reforms and PPPs

The Asian Development Bank (ADB) has approved the release of a US$500 million loan to Indonesia following the roll out of agreed policy reforms to reduce barriers to investment and encourage more public-private partnerships (PPPs), which are needed to foster the development of the private sector and increase its participation in infrastructure projects. Read more

IFC and banks syndicate loans for Indonesia Infrastructure Finance (IIF)

The International Finance Corporation (IFC), a member of the World Bank, along with eight banks are set to provide syndicated loans of US$150 million for the Indonesia Infrastructure Finance (IIF). Read more