Annual Report 2011 - East Asia and the Pacific
In FY11, IFC made record investments in East Asia and the Pacific. These are expected to support 72,000 jobs, reach 157,000 farmers, and facilitate about $12.3 billion in loans to micro, small, and medium enterprises. IFC’s new commitments in 69 projects across the region totaled $2.8 billion, including funds mobilized from other investors.
Our Advisory Services project expenditures totaled nearly $27 million—funds we used to help governments and the private sector manage economic growth in a more carbon-neutral way, to expand financing for small entrepreneurs and farmers, and to foster an investment climate that supports the creation of jobs.
More than half of our financing went to the region’s poorest countries. In Vietnam, for example, we helped partially privatize Vietinbank, the country’s third-largest bank, and improve its service delivery to small and medium enterprises.
Our strategic focus on climate change helped us mobilize $150 million for China WindPower, a fast-growing maker of wind turbine towers and operator of wind farms.
IFC included Chinese investors for the first time in one of our project syndications. By putting together $115 million in financing for Ghana Vodafone, we helped raise environmental and social standards for Chinese banks investing in Ghana and other emerging-market countries.