IFC established its office in Singapore to respond to a growing demand for private sector investments in emerging markets in the Asia and Pacific region. The office has grown rapidly, with over 130 staff as of the beginning of 2021. The IFC team has established strong relationships with the public, private and financial sectors in Singapore, on projects that span developing and emerging markets in Asia, and beyond. As of the end of FY2021, IFC has provided more than US$5 billion in financing to Singapore-based clients over the last decade.
In Singapore, IFC provides investment, advice, and asset management. These are mutually reinforcing services, delivering financing and global expertise to clients in developing countries in the region. Together, they give us a special advantage in helping the private sector create opportunity. Our investment and advice can be tailored to a client’s specific needs, and in ways that add value. Our ability to attract other investors brings additional benefits, introducing our clients to new sources of capital and better ways of doing business.
Our offerings are designed to meet the specific needs of IFC clients in different industries, with a special focus on infrastructure, manufacturing, agribusiness, services, and financial markets. IFC also supports the scaling up of disruptive technologies and new business models through our venture capital and fund investments, while our Upstream teams leverage World Bank Group (WBG) resources to lay the foundation for future transactions by engaging in early-stage project development and selective regulatory/policy reform.
The WBG Hub in Singapore is the only WBG office outside of Washington D.C. that co-locates IFC with the International Bank for Reconstruction and Development (IBRD) and Multilateral Investment Guarantee Agency (MIGA).