Tag: IFC

Rhodes PNG Ltd. Achieves Global First with Triple EDGE Gender Certification

Stuart Mitchell

Prefabricated building and engineering company, Rhodes PNG Ltd. is the first construction and engineering company in the world to be recertified for a third time with EDGE (Equity, Diversity and Gender Equality), the leading global standard for gender equality in the workplace. With technical assistance and advice from the International Finance Corporation (IFC), a member of the World Bank Group, Rhodes has maintained the EDGE standards through its actions and measurable impact on organizational culture, including an increase in the representation of women in management and non-traditional roles; more inclusive recruitment, promotion, and training…

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The ILO and IFC launch a third year-long Community of Practice among insurers to reduce the protection gap for women

Stuart Mitchell

The ILO’s Impact Insurance Facility and the IFC Women’s Insurance Programme have launched the third cohort of the year-long IFC-ILO Women’s Insurance Community of Practice – #In4Women – to raise awareness about the insurance needs of women, and to highlight the market opportunity for insurers if they target women as customers and employees. Following the success of the first two cohorts of the Community of Practice, the partnership continues to impart best practices on how to increase access to insurance for women, allowing for learning and knowledge sharing within the…

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Innovation and Inclusion Drive Impactful, Record Year for IFC in Asia Pacific

Stuart Mitchell

IFC’s projects delivered significant impact across Asia Pacific in the last fiscal year, addressing pressing development challenges including climate change, gender inequality, food insecurity, and financial inclusion, while creating jobs and improving services across the region. IFC, the largest global development institution focused on the private sector in emerging markets and a member of the World Bank Group, committed a record $12.2 billion to 123 projects in Asia Pacific in the fiscal year ending June 30, an 11 percent year-on-year increase. This comprised $6.2 billion in long-term financing from its…

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IFC Expands Partnership with ENGIE to Boost Renewable Energy in Emerging Markets

Stuart Mitchell

The International Finance Corporation (IFC), a member of the World Bank Group, announced a landmark green and sustainability-linked loan of €500 million (approximately $534 million) to ENGIE S.A., the parent holding company of the ENGIE Group. The financing aims to bolster ENGIE’s efforts to expand its renewable energy portfolio in emerging markets and decarbonize its activities. It is also designed to advance Poland’s decarbonization goals and enhance energy security in South Africa by promoting clean and sustainable energy solutions. The loan includes ambitious climate targets as well as innovative occupational…

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IFC Anchors voestalpine’s First Green Bond Issuance to Propel Steel Sector Decarbonization

Stuart Mitchell

IFC has announced an anchor investment of €75 million in the first green bond issuance by voestalpine AG, a global leader in steel processing and production headquartered in Austria. This landmark investment aims to accelerate the decarbonization of key value chains in the steel sectors of Brazil, Poland, and Romania. Steel is a critical resource for key industries and global economic development, playing a vital role in the green transition of sectors such as transport, manufacturing, and construction. However, the steel industry faces significant decarbonization challenges due to its reliance…

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