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Investment, Innovation, Impact Partnering with the Private Sector to Deliver Results Karin Finkelston IFC Vice President, Asia Pacific Canberra, Australia, August 21 , 2012. Emerging Markets are the Engines of Longer Term Growth. Source: IMF, October 2011.
Partnering with the Private Sector to Deliver Results
IFC Vice President, Asia Pacific
August 21, 2012
Source: IMF, October 2011
Source: IFC analysis based on MSCI information, October 2011
IFC is the largest global development institution focused exclusively on the private sector and is a AAA rated investor.
Climate Change—a cross-cutting trend
Financial Sector Constraints
Private Sector a Priority
Clean-tech, energy efficiency, renewable energy
Local Financial Market Development
Infrastructure, including Water, Sewage, Energy, and Housing
Health and Education
Rising middle-classes and the Base of Pyramid (BOP) Consumers
Logistics, Irrigation, Supply chain
SMEs, Microfinance, PPPs, South-South investments
Demand for Food and Commodities
Tulu Kapi Gold
Examples of IFC Equity Investments in Australian Junior Mining Companies
IFC committed US$150 million to Macquarie India Infrastructure Opportunities Fund to provide critical equity capital to developers of private or public-private partnership infrastructure projects in India.
IFC committed US$100 million to the Macquarie - Renaissance Infrastructure Fund, which is jointly managed by Macquarie Group (Australia) and Renaissance Group (Russia) and focused on infrastructure investments in Russia and the Commonwealth of Independent States. The fund has committed financing to transport, power, and telecommunications projects.
IFC invested US$100 million in the Africa Infrastructure Investment Fund 2, an equity fund that promotes the development of basic infrastructure in the region. The fund invested in the Bakwena Platinum Highway toll-road concession in South Africa, which stretches 385 kilometers.
IFC invested in three Macquarie-sponsored funds in Africa, India, and Russia, committing US$350 million in total.
The guarantee will help banks extend up to $61 million in new financing to small and midsize businesses.
Bank South Pacific (BSP) is the first institution to participate in the program.
Global Partnership: IFC helped Digicel offer affordable mobile phone service in countries considered too risky by big operators.
Going into remote markets paid off: Digicel $1.1 bln profit March 2010…
…and revolutionized commerce: Mobile phones connect people with markets across multiple islands and 1000s of miles; Farmers check crop prices on cell phones; villagers safely transfer money via phones.
PNG: telecoms competition adds 0.7 % GDP growth in 2008.
Samoa: Digicel's introduction lets prices drop 60%.
Nauru: coverage jumps from 0 to 90%
“IFC’s Business Edge product will help our retailers better manage and grow their businesses.
This is a win-win proposition for our clients as it will improve customer service and increase access to telecommunications products and services.”
John Mangos, CEO Digicel Papua New Guinea
Responding to Private Sector Needs
Pacific Microfinance Initiative – 35,000 people in PNG now have access to e-banking services (mobile phone banking and EFTPOS) in rural areas.
Credit bureaus established in Tonga and Vanuatu.
18 significant reforms relating to various aspects of business start-up, operations and alternative dispute resolution in Papua New Guinea, Solomon Islands, Tonga, Vanuatu and Timor-Leste.
Number of days to register a business in Timor-Leste reduced from 83 to 19 days.
In Focus - Public Private Dialogue in Papua New Guinea: National Working Group in Improving Business and Investment Climate in PNG, was launched with IFC support in October, 2011 after a two-year hiatus. As a result of the work, the government allocated dedicated office space to customs officers at PNG Ports so they can operate around-the-clock to speed up customs clearances, removing a bottleneck that slows down the import and export of goods.
In Focus - Access to Finance Program in China: Through the IFC managed Access to Finance program in China, focused on financial inclusion for underserved populations and SMEs in rural areas and frontier regions, between 2006 and 2011 credit information was made available for 774 million individuals, $1.1 trillion of financing to 68 thousand SMEs was enabled by the accounts receivable registry and supported micro-credit providers increased their reach to 70 thousand borrowers.