IFC In The News

October 2006

IFC to Invest in Asian Distressed Fund IFC's $50 million investment aims to promote a stronger credit culture in Asia and preserve jobs and capital during the restructuring or disposal of non-performing assets, reports Reuters (October 26).

IFC-MPDF Seminar Helps Businesses With Cost Controlling An IFC-MPDF seminar in Ho Chi Minh city has provided local businesswomen with tips on how to control spending so as to gain a competitive edge, reports the Vietnam Economic Times (October 23).

CCB Signs Deal with IFC on Global Trade China Construction Bank has signed an agreement with the IFC on trade financing, reports the China Daily (October 13).

September 2006

IFC to Expand Financial Commitment in East Asia IFC is setting aside more funds for development and private sector financing in the region next year, reports Channel News Asia (September 18). IFC Eyes Indonesia Infrastructure Investment IFC Executive Vice President Lars Thunell has said IFC may fund a handful of "model" infrastructure projects in Indonesia to help attract desperately-needed investment to the sector, reports Dow Jones (September 15) Doing Business 2007: China Ranks Among Top Reformers IFC and the World Bank's Doing Business 2007 Report reveals that China is now one of the top ten business reformers in the world, following a series of new reforms over the past year, reports AHN (September 13) IFC and ILO Team-Up to Improve Working Conditions IFC and the International Labor Organization (ILO) are to collaborate in developing a global program for better standards in global supply chains, reports CSR Asia Weekly (September 7).

August 2006

Philippines: IFC to Fund Research into Biofuels IFC, through its technical assistance facility PEP-Philippines, is to fund a study into the potential of renewable energy and biofuels for the Philippine market, reports the Manila Bulletin (August 24) IFC to Double Vietnam Investments IFC Executive Vice President Lars Thunell has said IFC could double its annual yearly investment in Vietnam to between US$100 - US$150 million over the next few years, reports VNS (August 18). IFC Helps Enhance China's Wastewater Treatment IFC's $20 million equity investment will help finance SinoSpring Utility Ltd's water projects in China while a $25 million loan to one of its subsidiaries will finance a seawater desalination plant, reports China CSR (August 7). China: IFC Backs Coal Conversion IFC has signed a financing package with China's Xinao Group to support the conversion of coal into an environmenally-friendly fuel for use in transportation, domestic cooking and heating, reports the Australian (August 4).

July 2006 Vietnam: IFC to Draw Investment to Power Sector IFC has been awarded an advisory mandate by Vietnam to boost investment in the country's power sector, which urgently needs to increase output to keep pace with rapid economic development, reports Thanh Nien News (July 22). IFC Launches Plan to Boost Business, Cut Poverty The Australian, New Zealand and Japanese governments have backed PEP-Pacific, an ambitious five year IFC plan to boost private sector growth as a means of reducing poverty in the region, reports Pacific Magazine (July 20). IFC to Aggressively Invest in China's Securities Sector IFC plans to invest in China's securities industry as aggressively as it has in the banking industry, where it has spent almost US$600 million in seven years, reports the South China Morning Post (July 17). IFC and Rabobank Acquire stake in Chinese Rural Co-op Bank People's Daily (July 12, 2006) reports IFC and Rabobank have signed a landmark deal with a Chinese bank on equity investment, making them the first overseas investors in a Chinese rural cooperative bank.

Indonesia's WOM Finance gets $20 million IFC Loan PT WOM Finance has received a $20 million loan from IFC for the expansion of its motorcycle financing business, company president Barry Wenas told Antara News (July 6, 2006)

June 2006

Philippines: IFC to Increase Investment Speaking at IFC's 50th Anniversary event in Manila, Philippines Country Manager Vipul Bhagat has said IFC is looking to increase its investment across several sectors, reports Business World (June 14, 2006).