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[Radio Australia] World Bank To Increase Pacific Investments Over 3 Years


IFC’s Pacific projects hoped to alleviate poverty

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MELBOURNE, Australia (Radio Australia, April 2, 2013) – The International Finance Corporation (IFC), the private sector arm of the World Bank, plans to increase its investment in the Pacific from US$250 million to US$1 billion over the next three years and wants to inject the money into private sector initiatives to help improve the lives of people in the region.

International Finance Corporation Vice President, Karin Finkleston, told Radio Australia’s Pacific Beat the IFC is looking at investment opportunities throughout the region.

The IFC is currently working with various organizations in partnership with the Papua New Guinean government’s national electrification roll-out plan.

IFC’s projects in the Pacific aim to alleviate poverty and improve opportunities for people in rural and urban areas and include initiatives such as solar mobile phone charging stations.

Ms. Finkleston says she sees investment potential in agribusiness, tourism, a wide variety of renewable energy projects, as well as in banks that lend to small local businesses.

Radio Australia: www.abc.net.au/ra
Copyright © 2013 Radio Australia. All Rights Reserved

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