IFC has launched Lighting Papua New Guinea, a project to help half a million people get safe and affordable solar off-grid lighting that will boost business, allow children to study, cut household costs, and help women stay safe on the streets.
Following the 2008 devastating earthquake in western China, IFC initiated an Emergency Assistance Program to enhance Bank of Deyang's capacity to lend to SMEs and enable it to support women-owned SMEs in the earthquake-affected areas, through both it
A cooperation agreement signed with the Solomon Islands government will allow IFC to expand its operation, attract more investors to the country, and strengthen its private sector to create jobs and improve the livelihoods of its people.
IFC fosters sustainable economic growth across the Pacific Islands by financing private sector investment, mobilizing capital, and advising businesses and governments on projects that provide lasting benefits to communities and the environment. We help create jobs, open up economic opportunities, and expand financial services.
Improving Infrastructure and Access to Finance By combining global expertise with local knowledge, IFC invests in infrastructure as well as advises governments on private sector participation in complex projects. We have been instrumental in improving the Pacific’s telecom and airline sectors, increasing competition and enhancing the delivery of reliable services to millions of people.
IFC combines investments with advisory services to enable banks to help local entrepreneurs access funding and financial services to grow their businesses. We help clients, from microfinance providers to commercial banks, develop innovative products and expand services to smaller businesses, rural villagers, and women – assistance that is critical in the Pacific where only about 20 percent of the population has access to financial services.
Creating Sustainable Businesses, Opening New Markets IFC seeks out investments that deliver long-term sustainable growth, benefit local communities while seeking to protect the environment. In the Solomon Islands, our investment in a gold mine – the country’s largest private sector development – is combined with a community investment program that helps small businesses participate in the mine’s supply chain and ensures good management and equal sharing of mining royalties.
We also work to build the management skills of entrepreneurs and help them raise production quality standards. These initiatives allow small and midsize businesses to connect with new buyers and trading partners. In Papua New Guinea, where one-third of the population lives off the coffee industry, we are helping farmers adopt sustainable farming practices to capture a greater share of the certified coffee market, increasing their productivity, quality, and income.
Better Business Environment, More Jobs IFC focuses on improving governments’ investment policies and promotion to attract domestic and foreign investments – creating jobs and driving economic growth. We advise governments on removing burdensome regulations that make it difficult to do business. In Tonga, for example, our efforts have resulted in simpler business registration processes that encouraged entrepreneurs, particularly women and small and midsize business owners.