In a bid to protect the most vulnerable people and help companies maintain operations and jobs, the International Finance Corporation (IFC) is focused on sustained investments in South Asia, to continue to have a strong impact in the fiscal year 2021. IFC committed over $ 3.8 billion, including mobilisation and short-term finance in South Asia as of June 2021, resulting in an investment volume of over $ 14.9 billion in the last five years in the region, towards a green and inclusive recovery. “The Covid-19 crisis has drastically impacted the region’s private sector, which has severely affected the region’s most vulnerable people,” said IFC Vice President Asia and the Pacific Region Alfonso Garcia Mora. IFC has committed $ 590 million in Covid response deals in South Asia – with additional deals worth over $ 100 million in the pipeline. Furthermore, IFC committed $ 353 million in climate finance and $ 490 million in IDA/FCS (International Development Association/Fragile and Conflict-Affected Situations) countries in the region.

Source: The Nation August 17, 2021 18:33 UTC