IFC and Chinese multinational construction and engineering company, CITIC Construction launched a $300 million investment platform, CITICC (Africa) Holding Limited, to develop affordable housing in multiple African countries.
During his presentation at a two-day mid-January workshop in Naypyidaw, Director U Min Khaing announced an ambitious vision for the country’s power sector – to fulfill [Myanmar’s] electricity demands by 2030.
There is a need to get hydropower companies into the discussions that shape policy and regulations. Together, says Kate Lazarus, Senior Operations Officer at the International Finance Corporation, we can play a role in driving change in this sector.
IFC in East Asia and the Pacific focuses on supporting sustainable, private sector-led development to ensure the region’s economic growth reaches all segments of society. Around half of our investments in fiscal year 2012 were in the region’s poorest countries with IFC opening up access to finance for small and medium enterprises, connecting rural households to electricity for the first time, improving access to healthcare, and fighting climate change by improving energy efficiency.