IFC And Proparco Join Forces to Strengthen Food Supplies in Several African Countries

IFC and Proparco recently signed a risk-sharing agreement covering a package of trade finance operations worth a joint USD 200 million. As part of this deal, Proparco will now participate up to 50% in certain GTFP (Guaranteed Trade Finance Program) exposures of IFC, on the African continent. The first phase of this operation is aimed in particular at strengthening food security in a number of countries in Africa. In a second phase, Proparco and IFC will extend their joint action to other regions of the continent. The initiative could ultimately…

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IFC Partners with IRENA; Pledges $1 Billion to Scale Up Renewable Energy Projects

The International Finance Corporation (IFC) recently signed a partnership agreement with the International Renewable Energy Agency (IRENA) and pledged $1 billion to accelerate the transition to clean energy in emerging markets. With this partnership, IFC joins the Energy Transition Accelerator Financing Platform (ETAF), a climate finance mechanism managed by IRENA that advances the global energy transition in IRENA member countries. IFC will bring its expertise to ETAF, increasing the flow of private capital towards ETAF projects, while IRENA will leverage its membership to attract project proposals through the platform. “We…

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IFC and Allied Climate Partners Announce Collaboration to Scale Emerging Market Climate Investments

IFC recently announced a collaboration with Allied Climate Partners (ACP) that will help create a pipeline of viable climate investments in Southeast Asia, Africa, the Caribbean and Central America, and India.  ACP’s new platform is backed by philanthropic capital and designed to mobilize investment in climate-related projects in emerging economies to create significant environmental, economic, and social impact. The collaboration with IFC will provide advisory and structuring support, technical assistance, and sustainability and impact-management support as needed to help bring projects to financial viability. It will apply global best practice…

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IFC Issues $1.5 Billion Social Bond to Support Low Income Communities in Emerging Markets

IFC issued a three-year social bond, raising $1.5 billion to support low-income communities in emerging markets. The transaction represents IFC’s largest ever social bond, with its largest ever order book. It is also the largest US dollar social bond issued by a supranational this year. This is IFC’s first US dollar denominated social bond benchmark in 2023, complementing the organization’s Canadian dollar and Australian dollar social bond benchmarks issued earlier this year.  “We are seeing tremendous demand from investors for our social bonds. With order books of over $6 billion,…

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IFC, T. Rowe Price to Create First Blue Bond Strategy to Support the Sustainable Blue Economy across Emerging Markets

IFC, a member of the World Bank Group, and T. Rowe Price today announced plans to create a pioneering global blue bond strategy to increase access to finance for blue projects in emerging markets and help improve market standards for the nascent blue bond market. The proposed T. Rowe Price Emerging Markets Blue Economy Bond Strategy (T. Rowe Price Blue) is expected to mobilize international capital from eligible investors to support blue-labeled investments in emerging markets globally through blue bonds issued by financial institutions and real sector companies.  “The investor…

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