Tag: IFC

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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$8 Trillion Opportunity in Sustainable Cooling Solutions for Developing Economies – IFC and UNEP Report

Stuart Mitchell

The cooling market in developing economies is expected to grow from around USD 300 billion to at least USD 600 billion, per year by 2050, according to a report released by the UN Environment Programme (UNEP)-led Cool Coalition and International Finance Corporation (IFC). The fastest growth in cooling is expected in Africa, which will see the market multiply by a factor of seven, and South Asia, which will quadruple in size. The report calls for prioritising passive, energy-efficient, environmentally friendly, and economically viable cooling solutions. The report, “Cooler Finance: Mobilizing…

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IFC and the Carbon Trust Join Forces to Cut Emissions in Emerging Markets

Stuart Mitchell

In a move to help more companies decarbonize operations and reduce emissions along their supply chains, the International Finance Corporation (IFC), a member of the World Bank Group, and the Carbon Trust have agreed on a plan to work together to promote decarbonization strategies for companies in emerging markets and accelerate investments in green production. The collaboration will provide new opportunities for IFC clients to develop roadmaps for decarbonizing their operations, while providing avenues for expanding the reach of IFC’s sustainable financing to global brands with supply chains in emerging markets.…

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