IFC pledges more investment in Fiji

Source: Xinhua| 2018-08-20 16:58:24|Editor: xuxin
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SUVA, Aug. 20 (Xinhua) -- The International Finance Corporation's (IFC) Vice President for Asia and the Pacific Nena Stoiljkovic met with Fijian Prime Minister Voreqe Bainimarama and Attorney General Aiyaz Sayed--Khaiyum on Monday to discuss increasing investment in the country.

As the largest global development institution working with the private sector in emerging markets, IFC will increase its investments and advisory work to support Fiji, Stoiljkvic said in a statement after the meeting.

She said the private sector was essential to driving economic growth and helping create jobs in Fiji.

"IFC, working with our colleagues at the World Bank, were pleased to support Fiji become the first emerging market in the world to launch a sovereign green bond, showing the rest of the world it's possible for small island states to develop new sources of climate financing," said Stoiljkvic.

With the support of the government of Australia, IFC is working to help Fiji increase the value of tourism for Fijian businesses and communities and create jobs.

IFC is also working with the Fijian government on boosting Fiji's trade and competitiveness by improving the investment climate, as well as looking at ways to overcome barriers to women in the workforce.

"We know that vulnerability to natural disasters is a significant issue for Fiji, so IFC is helping Fiji develop disaster risk insurance for low income families and affordable housing.

"IFC is also providing technical support to the Fijian Government for a public--private partnership, PPP, for the Ba and Lautoka hospitals, to improve healthcare services and facilities to support the wellbeing of the Fijian people," she said.

IFC said they were eager to increase investment in Fiji, as they continued to explore opportunities in infrastructure, information and communication technologies as well as support for small and medium sized enterprises.

IFC, a sister organization of the World Bank and member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets.

They work with more than 2,000 businesses worldwide, using IFC capital, expertise, and influence to create markets and opportunities in the toughest areas of the world.