IFC Invests $11-B Funding For PH, Asia-Pacific

The International Finance Corp. (IFC), the World Bank’s investment arm, has committed $11 billion worth of funding assistance to the Asia-Pacific region, including the Philippines, as of end-June 2023.

The IFC headquarters in Washington DC. I Photo: Michael Foley Flickr

The IFC has invested this much financing for climate projects and programs for the development of the micro, small, and medium enterprises (MSMEs) sector, as well as to assist projects benefitting women for gender equality, and farmers.

For the 2022 fiscal year ending June 30, 2023, IFC has put in $11 billion to fund 108 projects in the region.

This was 10% higher year-on-year. For the Philippines, the latest IFC investment that it announced last Aug. 10 was a $250-million green bond for climate finance. This will be issued by the Ayala-led Bank of the Philippine Islands.

The proceeds will go to green assets such as renewable energy, energy efficiency, green buildings, electric vehicles, and climate-smart agriculture projects, among others.

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