IFC has been delivering substantial impact in South Asia, despite challenging local conditions that include rising income inequality and severe poverty.
In FY13, our total commitments in the region totaled nearly $2.5 billion, up almost 60 percent from the previous year. Resources mobilized by IFC from other investors tripled, to $764 million. Advisory Services expenditures reached $33.6 million.
To help the region grow out of poverty, IFC worked to increase access to finance, infrastructure, and markets. Our clients provided phone access to more than 120 million customers and delivered the equivalent of $23.7 billion in loans to micro, small, and medium enterprises.
Climate change is another priority for IFC in South Asia, especially because of the region’s vulnerability to rising temperatures. Our projects aimed at achieving energy efficiency, particularly in agriculture and irrigation.