IFC, WEF Strengthen Global Partnership to Address Challenges Facing Private Sector Development

The International Finance Corporation (IFC) and the World Economic Forum (WEF) have announced an enhanced global partnership to tackle the most pressing challenges facing private sector development. The pandemic demonstrated the power of global coordination and multi-stakeholder action to unlock solutions to global challenges such as climate change, fragility and inequality. Working closely together, IFC and the WEF will maximize public and private sector collaboration to achieve the goals of sustainable development and shared prosperity. This partnership builds on a unified vision of collaboration across government, civil society and the private sector…

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IFC, SECO Expand Partnership to Promote Sustainable Investment in Emerging Economies

IFC, a member of the World Bank Group, and the Swiss State Secretariat for Economic Affairs (SECO) announced today a new program to spur private sector investment in developing countries by leveraging sound environmental and social (E&S) risk management and corporate governance practices. The new Integrated Environmental, Social and Corporate Governance (ESG) Program will support private sector entities in several countries in Africa, East Asia and the Pacific, Latin America and the Caribbean, and South Asia with advice regarding corporate structures – such as controls and board oversight – to…

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The EU and IFC Establish a New Partnership to Accelerate Climate-Smart, Inclusive Infrastructure Investments in South Asia

Six South Asian nations, including India, are set to benefit from a new USD$ 21.5 million (EUR 18 million) funding from the European Union (EU), which will help to accelerate climate-smart, inclusive infrastructure investments in their regions. IFC, the largest global development institution, focused on the private sector in emerging markets, will implement the project under the program, Accelerating Climate-Smart and Inclusive Infrastructure in South Asia (ACSIIS). ACSIIS is a five-year program (2021-2026) to help spur investments in energy, water, waste management, transport, logistics, and green buildings to benefit people…

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IFC Issues 500 Million CAD Social Bond to Support Low-income People, Women Entrepreneurs, Small Businesses and Essential Infrastructure in Emerging Markets

IFC issued a Benchmark 5-Year Social Bond, raising 500 million Canadian dollars for sustainable investments benefiting underserved communities in emerging markets, including women entrepreneurs and low-income people in need of access to healthcare and essential infrastructure. The deal attracted strong, diversified investor interest and it is IFC’s inaugural transaction in the CAD market under its Social Bond framework.  The last transaction denominated in Canadian Dollars issued by the IFC was a CAD 500 million conventional bond issued in September 2020. John Gandolfo, IFC Vice President and Treasurer said: “I’m delighted…

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IFC and We-Fi Help Tackle Gender Financing Gap Through IFC ScaleX

To help tackle the financing gap that women entrepreneurs still face, particularly in emerging markets, IFC and the Women Entrepreneurs Finance Initiative (We-Fi) HAVE launched a new call for applications for IFC ScaleX—a performance-based initiative that will provide an award of up to $25,000 to business accelerators that have helped women-led companies in emerging markets raise equity financing. “After acceleration, women raise far less capital than men, other factors being equal,” said Stephanie von Friedeburg, Senior Vice President of Operations at IFC. “We must level the playing field to ensure…

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