International Finance Corporation - South Asia

DYK❓The global demand for biofuels is on the rise, set to grow by 28% or 41 billion liters from 2021 to 2026

, derived from organic waste, hold immense potential in energy transition. They can help reduce energy wastage, boost efficiency, and support businesses transitioning to cleaner energy.

In India, IFC - International Finance Corporation's new partnership with Uttam Group of Companies, a leading gas container sales and transport company, will help develop a safe and reliable transport distribution system to scale and drive the adoption of clean energy.

To know how, read Victoria Delmon, IFC Manager of Upstream and Advisory, Asia Infrastructure’s latest blog for more insights: https://www.linkedin.com/pulse/fueling-indias-clean-energy-drive-victoria-delmon-46lcc?trk=public_profile_article_view

Working towards fostering a resilient and inclusive environment for SME financing in 🇧🇩 !

Bangladesh Bank-The Central Bank of Bangladesh Royal Norwegian Embassy in Dhaka

Today, IFC in collaboration with Bangladesh Bank-The Central Bank of Bangladesh organized an event which brought together multiple stakeholders to discuss the importance of fostering a resilient and inclusive environment for SME financing in 🇧🇩 .

The event covered the partnership between IFC and Bangladesh Bank in , the results of the impact assessment study conducted on women-owned , emerging trends in next-generation and global best practices in SME financing. The conference also delved into the challenges and opportunities, addressing solutions and innovations in light of global SME finance developments.

We extend special thanks to the Honorable Governor of Bangladesh Bank, Abdur Rouf Talukder, and His Excellency Espen Rikter-Svendsen, the Honorable Ambassador of Norway, for gracing us with their presence.

Royal Norwegian Embassy in Dhaka

Have you ever thought about how by , you can also open up new business opportunities for women?

Our latest initiative in is all about that!

Together with our longstanding partners Commercial Bank of Ceylon PLC, Australian High Commission, Sri Lanka and Sarvodaya, we opened a new early childhood development center, which also sends a signal to women entrepreneurs who want to explore childcare as a new business venture.

And IFC also plans to roll out the second phase of this initiative soon, raising awareness among local communities to promote the uptake in investing in childcare: http://wrld.bg/ZlVz50QaBgh

❔How can Multilateral Development Banks (MDBs) help countries manage sudden, large shocks including natural disasters, pandemics, and more?
❔Can private financing arms of MDBs do more to crowd in private investments for transformational change?
❔What is the role of financial regulators in facilitating greater private capital mobilization for climate change?

We deliberated on all this and more at a workshop jointly organized by NITI Aayog and ICRIER on ‘Accessing MDBs and Global Finance for Development and Green Growth’ under the .
The workshop facilitated discussions and actions to strengthen MDBs to leverage greater official and private capital for inclusive and sustainable development, and raised awareness regarding the commitments outlined in the G20 New Delhi Leaders' Declaration (NDLD).

At the session, Shalabh Tandon, IFC - International Finance Corporation South Asia Regional Head of Operations & Climate and Interim Regional Director talked about:
✅IFC’s role in mechanisms like partial credit guarantees and risk sharing facilities in enhancing private capital mobilization for climate finance in emerging markets
✅Structuring of hedging of currency risks to attract international capital
✅The role and development of local capital markets and partnerships between domestic institutions and MDBs

A rich discussion that will set the stage for the formulation of a comprehensive action plan to monitor the progress of the NDLD commitments.

📰 Read More: https://lnkd.in/dKyQNM9q
PMO India

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DYK? India's energy economy needs an annual average investment of $160 billion from now until 2030 to achieve net-zero emissions by 2070, as per the IEA.

The private sector will play a crucial role in shaping the future of sustainable investment and energy initiatives. So, how can regulations contribute to enhancing opportunities for businesses and fostering an environment conducive to new energy and green growth?

"IFC has financed sustainability-linked loans and bonds – taking place for the 1st time in India. To do more, we need to incentivize the green ."— IFC South Asia Regional Head of Operations & Climate and Interim Regional Director Shalabh Tandon shared insights at hosted by Observer Research Foundation G20 India ORF Energy.

He also delved into the growth potential of ESG (Environmental, Social, Governance) frameworks among MSMEs, in , and , underscoring that businesses are eager to invest when the risks and returns align with the . Here are some key takeaways from the session:

✅To accelerate the pace of the , exploring strategies that bolster private sector involvement and align with new regulations is vital.
✅India's depends on embracing , with transportation accounting for 11% of the nation's energy use.
✅Boosting public institutions is vital, and technology can ensure this transformation. However, addressing challenges in public utilities and contract enforcement is paramount.
✅As the green building sector evolves, challenges in implementation hinder scaling up and affect businesses looking to adopt eco-friendly practices. This calls for sector sensitization and increased consumer awareness to overcome these issues.

The three-day conference featured insightful discussions on opportunities, challenges and solutions for transition.

Want to catchup on more insights? Watch the session here: https://www.youtube.com/watch?v=qBZE6XPiNi8&list=PLHu-cm5A_l81qEqXm0KoFmnlFi59xEUMO&index=26&ab_channel=ObserverResearchFoundation

In financial year 2023, IFC - International Finance Corporation in invested a total of $1.5 billion – one of the highest amounts committed in recent years.
But how have these investments translated into positive change for the people of Pakistan?
And how has it enabled Pakistan to tackle its most pressing challenges like , , gaps in productivity and trade, and a lack of access to quality and jobs?
See the infographic below to find out! And read more here: http://wrld.bg/VHrr50PL1uY

Warmly welcoming Anna Bjerde, Managing Director of Operations World Bank, to . Today, she met with inspiring women entrepreneurs and saw firsthand in promoting gender equality and inclusion through initiatives with longstanding partner Commercial Bank of Ceylon PLC. that through two IFC-developed products, CBC is bringing over 32,000 previously unbanked female customers into the formal economy?

Empowering women *always* delivers positive change 💪🏾.

Threads of success 🧵

A one-of-a-kind program in has helped women employees of Hel Clothing, Vogue Tex and Orit Apparels Lanka Private Limited, step into newer and brighter horizons🌅, with better and greater opportunities🙌🏾 and a new sense of confidence💪🏾.

Besides improving women’s access to better jobs and promoting a more skilled, diverse workforce, the program also contributes to improved operational performance of manufacturers.

How a partnership led to better opportunities: http://wrld.bg/Aulu50PXsVz
IFC - International Finance Corporation

Congratulations AIA Sri Lanka on being ’s 1st EDGE certified insurer! 👏🏾 As part of the IFC-DFAT Women in Work program, we are proud to be a part of this journey, fostering greater gender equality in the workplace!

Australian High Commission, Sri Lanka

IFC - International Finance Corporation is proud to unveil its digital Gender & Infrastructure Toolkit! Check out this comprehensive, modular, and interactive resource to empower companies in addressing gender disparities in their workforces, supply chains, and community engagement activities. At a time when diversity and inclusion are more important than ever, this toolkit includes:

📈 Business cases for mining, water, energy, transport, & cities
🛠️ 64 practical tools on gender-inclusivity in workforce, supply-chain, community engagement
🙋🏾‍♀️ Guidance on addressing gender-based violence and harassment across all themes and sectors
📝 Report builder to customize and build your own toolkit
🌐 Explore today: https://commdev.org/infra-gender-toolkit/

💪🏾💼

: Two years ago, when Poornima Madubashini started her career as a machine operator at Vogue Tex Weligama in Southern , her father was not pleased with her decision.

Stigma associated with women working in the apparel industry has long been a concern, in and globally. But Madubashini's mother stood by her, encouraging her to pursue her dreams.
Today, the gears have shifted—in more ways than one!

The pilot program of the Gender Equality and Returns (GEAR) program – as part of the BetterWork initiative in partnership with ILO Colombo and European Union in Sri Lanka and the Maldives – has had transformative results for garment factory workers of Hela Apparel Holdings, Vogue Tex and Orit Apparels Lanka Private Limited, empowering young women like Madubashini and helping unlock the potential of the country’s workforce to drive sustainable growth: http://wrld.bg/Aulu50PXsVz
IFC - International Finance Corporation

In India, IFC’s latest financing will provide a much-needed boost to the Insurtech sector through its investment in Onsurity, a leading insuretech startup, aimed at accelerating the digital transformation of the healthcare insurance industry.

Onsurity offers monthly subscription-based healthcare insurance solutions to, startups, emerging businesses and micro, small, and medium enterprises (MSMEs) with the goal of making employee healthcare benefits accessible to India's traditionally underserved SME market, comprising over 63 million businesses, employing almost 400 million people and supporting over 675 million families in the country.

This investment will enable the innovative tech-based platform to collaborate with its insurance partners and create technology solutions that enable a seamless and transparent claims process for its members. Onsurity will also scale its efforts to extend healthcare insurance coverage to a broader spectrum of SMEs by forging partnerships with over 50,000 companies, providing coverage to more than 5 million lives by 2026.

Learn more about how IFC supports startups in emerging markets here: https://www.ifc.org/en/what-we-do/sector-expertise/venture-capital

In 2022, climate investment in India stood at just $44 billion per year, according to the Climate Policy Initiative. But, to achieve its net-zero targets, India needs to scale up significantly, aiming for $170 billion annually by 2030.
IFC’s latest report on 'Blended Finance for Climate Investments in India,' highlights opportunities to utilize blended finance—an innovative financing approach that catalyzes private sector investment to finance critical sector like energy, transport, waste management, agriculture, biodiversity, and health, among others to deliver high development impact in emerging markets.
Download the report here: https://www.ifc.org/en/insights-reports/2023/blended-finance-for-climate-investments-in-india

Did you know? The market for green businesses in Asia is projected to be worth $4-5 trillion by 2030.

How can emerging markets adapt global sustainable taxonomies locally to scale opportunities for green investments?

🏦 The "Taxonomy in Sustainable Finance" workshop, co-hosted by IFC - International Finance Corporation and the Indian Banks' Association, delved into intricate taxonomy issues and convergence.

Shalabh Tandon, IFC’s Interim Regional Director and Regional Head of Operations and Climate Change for South Asia, attributed the lack of a consistent system of classification as a key gap in making sustainable finance available at scale. In this background, he along with Gopal Bhagat, Deputy Chief Executive of IBA ,initiated the virtual workshop, under the India Green Finance program, funded by the European Union, under the ACSIIS project, which aims to accelerate climate-smart, inclusive infrastructure investments in South Asia.

🌱 Key Insights:

🌍 Exploring Taxonomies: China & Indonesia are leading the path to a greener economy. Louise Gardiner, SBFN, explored global goal-aligned taxonomies and the roles of regulators and banks, with real-world cases from the EU, South Africa, and Sri Lanka.

🌏 LAC Taxonomy: Laura Canas da Costa, UN Environment Programme Finance Initiative, highlighted the climate-focused LAC Framework, essential for transparent capital flows, with 10 LAC countries creating their taxonomies.

🌱 Leading the Way: The EU aims for net-zero by 2050. Laurent Klein, AFD - Agence Française de Développement discussed the dynamic approach, addressing both financial and impact risks.



The virtual event concluded on a high note; from international taxonomies to climate finance strategies, the discussions served as a catalyst for driving impactful change within the financial landscape.

EU in India

How can we unlock the potential of half the world's population? Join us as we explore how to elevate women in leadership roles, finance, and business during The World Bank Group Annual Meetings event coming up on October 11. Sign up and get a reminder: http://wrld.bg/GRE550PUfrW

Since 2020, the Pakistan Sustainable Banking Project by IFC - International Finance Corporation has been helping banks across better manage environmental, social and governance (ESG) issues in order to create a greener financial sector.
To do this, IFC teamed up with the State Bank of Pakistan to develop an environmental and social management (ERSM) manual that gives banks tools and checklists to ensure their lending practices preserve natural resources and vital ecosystems.
Read more about this pioneering initiative here: http://wrld.bg/TMyV50PSU7l

👩‍🌾490,000 farmers reached 💼 2.2 - 3.1 million jobs created 🌐34.5 million internet connections enabled In FY23, committed new investments that will impact lives, boost economies, and create opportunities for people in emerging markets.
Click to know more: http://wrld.bg/fCMe50PSUpV

Exciting news from !

IFC has signed an agreement with Public Private Partnership Authority Bangladesh to assist Civil Aviation Authority Of Bangladesh in attracting qualified private partners for the operation and maintenance of the soon-to-be-completed Terminal 3 of the Hazrat Shahjalal International Airport. The will improve the quality of airport services, including passenger and cargo handling, and reduce the total arrival and departure processing and waiting time for passengers: http://wrld.bg/7s0K50PQY6H

🎙️ In the latest episode of with IFC, Makhtar Diop welcomes Anand Mahindra, Chairman of the Mahindra Group, for an inspiring conversation. Discover how their partnership with IFC dates back to 1963 and how art and business intertwine in Mahindra’s world on your favorite platform.

🎵 Apple Podcasts: http://wrld.bg/RMip50H0PWM

🎹 Spotify: http://wrld.bg/8Hwk50H0PYV

🥁Website: http://wrld.bg/l5lh50PPZrP

Anand Mahindra on Culture, Commerce and Community IFC's Makhtar Diop engages in an enlightening conversation with Anand Mahindra, Chairman of the Mahindra Group. They explore the intersection of business, culture and community, spotlighting Mahindra's popular artistic initiatives like the Mahindra Blues Festival and the Mahindra Excellence in Theat...

Just In! 🚨

IFC has launched a new report on “Blended Finance for Climate Investments in India” to highlight the opportunities and potential for blended finance in driving private capital towards high-impact climate projects.

Learn more about how it can help accelerate 🇮🇳’s path to net-zero: https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=27776

the insurance industry could earn up to $1.7 trillion by 2030 by targeting women, with half of this opportunity coming from emerging markets like ? If the industry were to hire more women as employees and insurance agents, they would have more disposable cash in hand. Cash in women’s hands is also known to have beneficial impact – women spend more on household expenses such as children’s nutrition, health, and education, creating conditions for sustainable economic growth.

To talk more about this, IFC - in partnership with the Government of Ireland - facilitated a Gender Sensitivity Awareness workshop for Insurance Regulatory Commission of Sri Lanka, which explored:

🙋🏻‍♀️ building a business case on women’s insurance;
🙋🏻‍♀️increasing awareness of gender dynamics in the workplace;
🙋🏻‍♀️the importance of improving women’s access to insurance and job opportunities.

In , rapid urbanization and the growing mid-income group have resulted in a severe shortage of affordable and mid-income houses, with a need for nearly 38 million housing units by 2030.

Through a $40 million investment, IFC is partnering Sunteck Realty to address the housing deficit by increasing access to high-quality urban housing for mid-income groups and promoting the development of green homes in in the Mumbai Metropolitan Region (MMR) in the city.

As per IFC estimates, India’s green building market accounts for only 6% of residential buildings, despite representing a $1.25 trillion opportunity between now and 2030. This financing will also encourage green construction with EDGE green building certification, contributing to the reduction of CO2 emissions from the housing sector: http://wrld.bg/F4sO50POvu4

How can move towards a new paradigm for sustainable economic growth?

This was the question raised at a recent roundtable hosted by IFC - International Finance Corporation, the World Bank Pakistan and The Pakistan Business Council with private sector stakeholders as part of the campaign.

Participants at the roundtable drew from their experience & expertise to provide specific policy recommendations to address this question. The discussion also highlighted the importance of achieving political consensus for economic reform as well as ways to strengthen lucrative sectors and empower the workforce.

To learn more about the campaign click here: https://bit.ly/pakistanreforms-brighter-future