Recent corporate regularity, including in China, have shown that corporate boards have struggled to contain fraud, excessive risk-taking, and mismanagement, leading to business collapse and in some cases, an industry-wide blowback.
As a growing number of Thai banks finance ever more hydropower projects in the Mekong region, IFC is striving to raise the sustainability of such multi-million dollar infrastructure investments by familiarizing banks with environmental and social ris
For farmers in Papua New Guinea’s province of East New Britain, harvest time can be days of plenitude – and peril. Farmers deliver hessian bags brimming with cocoa or copra (dried coconut meat which is processed for oil) to the local commodity
As Vietnam’s economy continues to accelerate, so does its energy use. Vietnam’s power consumption has been growing at around 15 percent. Among the country’s biggest energy users is the building sector, which accounts for about 20 percent
IFC's Advisory Services in East Asia and the Pacific
The global financial crisis has pushed 14 million more people into poverty in EastAsia and the Pacific. While this region is withstanding the downturn better than others, sustainable recovery will depend largely on goods and services sold at home rather than abroad. To support a shift from East Asia’s export-driven economies to domestic growth, IFC backs microfinance initiatives, helps governments simplify business regulations, and supports domestic companies in improving their corporate governance and competitiveness. We also teach farmers to adopt sustainable farming practices and support the tourism industry in the Pacific Islands.
IFC focuses on the poorest countries and regions when tackling four strategic goals: creating inclusive rural growth, supporting urban and domestic-led growth, fostering competitive markets, and fighting climate change. Two of the world’s three largest greenhouse-gas emitters—China and Indonesia—are located in EastAsia. IFC therefore puts a strong emphasis on advising banks and other companies on how to direct funds to climate-friendly projects.
We continued to create more business opportunities for the poor. IFC helped establish credit bureaus in Cambodia, Papua New Guinea, Tonga, and Vanuatu. We spent more than $28 million on our advisory projects, almost 6 percent more than in fiscal year 2011.