“Hydropower demands are growing too fast to limit your scope to one country,” said Kate Lazarus, team leader for IFC’s Mekong sustainable hydropower program. “We’re approaching sustainability from an Asia-wide perspective.”
“Chinese banks are among the leading lenders in neighboring Southeast Asia and Africa, making them important players in international development finance,” said Morgan Landy, IFC Transaction Risk Solutions Director based in Washington D.C.
Sustainable hydropower develpoment can be done better. Experts agree that three areas needing improvement are addressing environmental and social risks upfront, improving sustainable lending, and strengthening regional cooperation.
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.