International Finance Corporation plans to launch $1-1.5-bn Asia Fund
- Navy officer dies on board INS Kolkata off Mumbai
- SC calls Sahara proposal an âinsultâ, Subrata Roy to stay in jail till March 11
- I'm not a terrorist, Modi should have met me: Arvind Kejriwal
- Modi to hold 'Chai Pe Charcha' on women empowerment on Saturday
- SC issues notice to Centre on Kiran Reddy's PIL against creation of Telangana
The World Bank's investment arm, International Finance Corporation (IFC), is planning to launch IFC Asia Fund with a target size of $1-1.5 billion.
The fund will mobilise additional capital for co-investment in emerging markets in the Asia-Pacific region. It will be managed by IFC Asset Management Company LLC, a project disclosure on the IFC website mentioned.
The IFC AMC was created in 2009 to expand the supply of long-term capital to these markets by accessing IFC's global reach, investment approach and standards. Large global institutional investors are expected to invest alongside IFC in this fund.
The firm will invest 20 per cent of the total commitments made to the IFC Asia Fund subject to an overall cap of $200 million. The Asia fund will focus on various sectors, including infrastructure (transport, power, oil and gas, logistics, real estate), manufacturing and services and financial markets and in a geographic span across Asia.
The investment strategy is that it will co-invest in new IFC projects and may also invest in IFC portfolio projects. The investment firm said it brings not only capital, but also sustainability, governance and operational advice. This will enable investor companies to raise standards, improve risk mitigation and generate value.
"IFC's investment will send a strong signal of IFC's commitment to the region, reinforce investor's confidence and encourage investment in the region," said IFC in a project disclosure. fe
- Google’s mystery barge finds new home
- Allahabad, Phulpur Congress oppose ‘outsider’ nominees
- Bombay HC allows R-Infra to amend suit against AAP
- US job growth picks speed, weather cuts into hours worked
- As RBI readies to issue licences, old private banks in spotlight
- BJP writes to EC against dropping of sedition charges