IFC commits $200m to Emerging Asia Fund

International Finance Corporation (IFC), the private lending arm of the World Bank Group, has pledged to invest up to $200 million in its Emerging Asia Fund (EAF), which reached its first close last week.

The investment instrument aims to fund private companies across multiple sectors in Asia to boost growth and investment in the region, IFC said in a statement.

Joining the IFC as investment partners are Korea Development Bank (KDB) and Fiji National Provident Fund (FNPF).

Investments made by the EAF will be aligned to IFC’s strategy to address the infrastructure deficit in East Asia and the Pacific region. It will support invested companies in raising operational 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 Vivek Pathak, regional director East Asia and Pacific, IFC. “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.”

Raising additional capital in emerging markets of the Asia region is important to spur sustainable growth in many low and middle income countries in the region. The public sector companies lag in innovation, technological development and employment creation. This has made the private sector “central to finding and financing the development solutions that are needed,” the IFC said.

Asia, the largest continental economy by GDP in the world, is also home to two-thirds of the world’s poorest people. Governments in the East Asia and the Pacific region have tried to bolster growth by investing in infrastructure, and committing to political and economic reform. These steps have led to emergence of a rapidly growing middle class.

“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,” the IFC commented.

The IFC’s long-term investments for East Asia and the Pacific region totalled $3.3 billion last fiscal, among the $18 billion capital invested globally during the year.

Also read:

India: Edtech firm BYJU’s in process of raising $50m, IFC likely to invest up to $15m

IFC, Singapore’s Armstrong Fund to invest in Vietnamese power firm

IFC to invest $20m in Abraaj Group’s $200m Pakistan fund

IFC may extend $34m financing to Thailand’s TMB Bank

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.