IFC steps up Philippines investment
The private financing arm of the World Bank, International Finance Corporation (IFC), will invest up to $400 million in the Philippines in 2013, doubling its 2012 allocation of $200 million, an official was quoted as saying by the Philippine Star newspaper on December 10.
Jesse Ang, IFC representative to Manila, said the projected investment would go into financial and infrastructure programmes and projects.
The IFC is a member of the World Bank Group and is investing in for-profit and commercial projects with the aim to reduce poverty and promote development. The IFC’s tries to create opportunities for people to achieve better living standards by mobilising financial resources for private enterprises, promoting accessible and competitive markets, supporting businesses and creating jobs.
The IFC’s investment programme for the Philippines includes the banking sector where the institution is looking at working on distressed assets and cleaning up balance sheets. The IFC has stakes in financial institutions such as BDO Unibank Inc. and Rizal Commercial Banking Corp. Ang said the IFC is planning to increase its shareholdings in these two banks if opportunity arises. It also plans to create a “special purpose vehicle” for the Planters Development Bank.
Infrastructure investments will happen with some projects of the country’s public-private partnership (PPP) programme, particularly in the areas of transport, toll roads and water, Ang said. The IFC has entered into advisory contracts with the Development Bank of the Philippines and the Land Bank of the Philippines for their respective PPP programmes. Other sectors the IFC is looking into are opportunities in renewable energy and food security projects.
[caption id="attachment_5779" align="alignleft" width="300"] Toll road projects are one investment sector targeted by the IFC in the Philippines[/caption] The private financing arm of the World Bank, International Finance Corporation (IFC), will invest up to $400 million in the Philippines in 2013, doubling its 2012 allocation of $200 million, an official was quoted as saying by the Philippine Star newspaper on December 10. Jesse Ang, IFC representative to Manila, said the projected investment would go into financial and infrastructure programmes and projects. The IFC is a member of the World Bank Group and is investing in for-profit and commercial projects with the...
The private financing arm of the World Bank, International Finance Corporation (IFC), will invest up to $400 million in the Philippines in 2013, doubling its 2012 allocation of $200 million, an official was quoted as saying by the Philippine Star newspaper on December 10.
Jesse Ang, IFC representative to Manila, said the projected investment would go into financial and infrastructure programmes and projects.
The IFC is a member of the World Bank Group and is investing in for-profit and commercial projects with the aim to reduce poverty and promote development. The IFC’s tries to create opportunities for people to achieve better living standards by mobilising financial resources for private enterprises, promoting accessible and competitive markets, supporting businesses and creating jobs.
The IFC’s investment programme for the Philippines includes the banking sector where the institution is looking at working on distressed assets and cleaning up balance sheets. The IFC has stakes in financial institutions such as BDO Unibank Inc. and Rizal Commercial Banking Corp. Ang said the IFC is planning to increase its shareholdings in these two banks if opportunity arises. It also plans to create a “special purpose vehicle” for the Planters Development Bank.
Infrastructure investments will happen with some projects of the country’s public-private partnership (PPP) programme, particularly in the areas of transport, toll roads and water, Ang said. The IFC has entered into advisory contracts with the Development Bank of the Philippines and the Land Bank of the Philippines for their respective PPP programmes. Other sectors the IFC is looking into are opportunities in renewable energy and food security projects.
