Contact: K. Thompson, IFC, Manila
Phone: (63-2) 811-3226/811-3231
Fax: (63-2) 811-3293
Contact: L. Joseph, IFC, Washington
Phone: (202) 473-7700
Fax: (202) 676-0365


MANILA, PHILIPPINES, Oct. 18--Mr. Jannik Lindbaek, Executive Vice President of the International Finance Corporation (IFC) will lead a delegation to the Philippines from October 21 to 23, 1996. This is Mr. Lindbaek's first official visit to the Philippines.

The purpose of the visit is to consult with government and industry leaders on IFC's activities in the Philippines. Mr. Lindbaek will visit IFC projects and address a press conference in Manila on the conclusion of his visit.

In response to the changing business environment in the Philippines, IFC is focusing on emerging sectors such as petrochemicals, capital markets, and health care facilities, and targeting second and third tier companies, especially in the rural areas and outer provinces. After several successful projects in the power sector, IFC is now looking at other infrastructure sectors, such as water supply, roads, and ports.

Mr. Lindbaek will be accompanied by Mr. Peter Cook, Director, Asia; Mr. Ravi Bugga, Manager, East Asia; Mr. Rashad Kaldany, Manager, Asia Capital Markets; Mr. Scott Macleod, Manager, Corporate Finance Services; Mr. Mark Constantine, Manager, Corporate Relations; and Ms. Suellen Lazarus, Special Assistant to Mr. Lindbaek. Mr. Kip Thompson, Principal Investment Officer and IFC's former Resident Representative in Manila, will also join the delegation.

IFC is a member of the World Bank Group and is the largest multilateral source of equity and loan financing for private sector projects in developing countries.