IFC commits up to $200 million to IFC Emerging Asia Fund to invest across multiple sectors in Asia to boost growth and
investment in the region
Washington, July 29, 2016—IFC, a member of the World Bank Group, has committed up to $200 million to the IFC Emerging
Asia Fund (EAF), which this week reached a first close. IFC is joined by the Korea Development Bank (KDB) and the the
Fiji National Provident Fund (FNPF).).
Central to the EAF is mobilizing additional capital in emerging markets of the Asia region, given the scale of
investment, innovation, technological development and employment creation required for sustainable development in many
low and middle income countries in the region falls beyond the range of the public sector, making the private sector
central to finding and financing the development solutions that are needed.
Investments by the EAF will be aligned to IFC’s strategy for the region, which includes a focus on addressing the
infrastructure deficit, and at the same time it will also help investee companies raise standards, improve risk
mitigation and generate value.
“We are excited by the equity opportunities we see in emerging Asia and delivering further development impact through
our clients,” said IFC Regional Director East Asia and Pacific, Vivek Pathak. “We are very pleased that major
institutional investors such as KDB and FNPF are partnering with us to further IFC’s support of private sector
development.”
The new global architecture for international development, the Sustainable Development Goals, launched at the United
Nations in 2015, highlights that financing sustainable development requires low and middle income countries tap new
sources of capital from both private and public sources, including leveraging global private capital to most skillful
effect.
Two thirds of the world’s poorest people live in emerging Asia and yet it is the engine room of global growth being the
fastest growing region and the largest continental economy by GDP in the world. This growth is a function of favorable
dynamics such as the continued need for enhanced infrastructure, the emergence of a rapidly growing middle class and
commitments by many governments in the region to political and economic reform. Combined, these dynamics have created
significant opportunities for investment in the region including China, India, Indonesia, Philippines and Asian frontier
markets such as Vietnam and Myanmar.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in
emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to
create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18
billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared
prosperity. For more information, visit www.ifc.org
ENDS