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Search resuls for: "International Finance Corp"


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☆ New French fund with 87.5 mln euros targets African solar development
  + stars: | 2023-02-24 | by ( ) www.reuters.com   time to read: +2 min
PARIS, Feb 24 (Reuters) - A new investment fund with 87.5 million euros ($92.63 million) will finance solar power production across Africa, with a focus on West and Central Africa, French fund manager RGREEN INVEST and investment adviser ECHOSYS INVEST said on Friday. The AFRIGREEEN Debt Impact Fund's first closing will finance on- and off-grid solar power plants for small- and medium-sized commercial and industrial consumers across the continent, the statement said. The groups are looking to have a portfolio of twenty to thirty investments, with aim of meeting long-term debt financing needs of between 10 and 15 million euros, with an average of around 5 million euros over eight to ten years, the statement said. RGREEN INVEST and ECHOSYS INVEST said that the first closing included commitments from the European Investment Bank (EIB) and the International Finance Corporation (IFC). The group is aiming to raise a total of 100 million euros from development finance institutions and private investors.
☆ A.P. Moller Capital plans $750 mln infrastructure deals in South, Southeast Asia
  + stars: | 2023-02-20 | by ( Anshuman Daga | ) www.reuters.com   time to read: +1 min
Moller Capital, the asset management unit of Danish transportation and logistics giant A.P. Moller Group, said on Monday it aims to invest more than $750 million in the high-growth markets of South and Southeast Asia. Moller Capital and our investment business in Asia, where we see significant opportunity...," said Dhruv Narain, partner at A.P. Moller Capital and head of its Asia team. Moller Capital manages more than $1.5 billion and has invested in 16 projects.
☆ Egypt court to rule soon in case over Intesa's local unit - sources
  + stars: | 2023-02-20 | by ( ) www.reuters.com   time to read: +2 min
It did not mention AlexBank, though a sale of its remaining stake to Intesa is a possibility, one of the sources said. The sale was challenged in court by activist group, the Egyptian Centre for Transparency, local media reported. Egypt's constitutional court in mid-January ruled to uphold that law rejecting a challenge brought against it. A number of cases, including that centred around the sale of AlexBank, had been put on hold pending the decision on the law. Reporting by Patrick Werr in Cairo and Valentina Za in Milan; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.
☆ External backers pour billions into Ukraine to counter war damage
  + stars: | 2023-02-17 | by ( Olena Harmash Karin Strohecker | Olena Harmash | Karin Strohecker | ) www.reuters.com   time to read: +5 min
[1/3] A view of the destroyed village of Moshchun amid Russia's invasion, Kyiv region, Ukraine May 19, 2022. But before they can even begin to be answered, Kyiv is seeking billions just to ride out this year. After a 30% contraction in its economy in 2022, Ukraine will need $38 billion by the end of year to cover its budget deficit alone. "But to me, one of the surprises has been how the private sector has been so resilient." "Supporting Ukraine now is critical to avoid a devastating humanitarian crisis and to strengthen Ukraine for what it's doing for the rest of the world."
☆ Exclusive: World Bank's Malpass on surprise exit: Four years is a long time
  + stars: | 2023-02-16 | by ( Andrea Shalal | ) www.reuters.com   time to read: +3 min
WASHINGTON, Feb 16 (Reuters) - World Bank President David Malpass on Thursday told Reuters he decided to leave before his five-year contract ended because he felt work was well underway on reforms aimed at expanding the bank's lending. Malpass, who was nominated by former President Donald Trump, said the end of the bank's fiscal year was a good time for a transition. Malpass will leave the bank by the end of June. Asked about suggestions he had been urged to leave, Malpass said he was leaving on his own terms and it made sense for him at this time. Malpass would not comment on whether it was time to end a longstanding tradition of having the bank's leader come from the United States.
☆ European partners are helping businesses in Ukraine, IFC managing director says
  + stars: | 2023-01-17 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEuropean partners are helping businesses in Ukraine, IFC managing director saysMakhtar Diop, managing director at the International Finance Corporation, discusses how Ukraine's economy has been impacted by the war.
☆ Indonesia’s green step not yet a leap for mankind
  + stars: | 2022-11-18 | by ( George Hay | ) www.reuters.com   time to read: +8 min
That’s where the private sector comes in, and why Just Energy Transition Partnerships (JETPs) are a potential game changer. More significantly, seven international banks, including HSBC (HSBA.L), (0005.HK), Citigroup and Bank of America (BAC.N), have promised to match that amount. International Finance Corporation figures show that “concessional” finance extended by public bodies at below-market rates can often attract 10 times its own level in private finance. The GFANZ working group will need to ensure Jakarta is sticking to its side of the decarbonisation bargain. The GFANZ group includes Bank of America, Citigroup, Deutsche Bank, HSBC, Macquarie, Mitsubishi UFJ Financial Group and Standard Chartered.
☆ Explainer: Decoding COP27: the many shades of green bonds
  + stars: | 2022-11-09 | by ( Tommy Wilkes Virginia Furness | Tommy Wilkes | Virginia Furness | ) www.reuters.com   time to read: +7 min
At the COP27 climate conference in Egypt, companies and country delegates are discussing ways of enhancing the market for green bonds, or bonds that are linked to projects deemed environmentally beneficial. POPULAR DESPITE THE 'GREENIUMS'Also known as "use of proceeds bonds," green bonds involve a company or government raising money for projects considered environmentally beneficial. SUSTAINABILITY-LINKED BONDSSustainability-linked bonds, or SLBs, comprise a newer and smaller market than green bonds. SOCIAL BONDS, SDG BONDS, AND MOREBeyond bonds focused on environmental outcomes, lie pools of money for related goals around social equity or fair living standards. Social impact bonds, or impact bonds, differ from social bonds in linking financial returns to the desired outcome.
☆ World Bank to discuss in October replacement for 'Doing Business' reports
  + stars: | 2022-09-29 | by ( ) www.reuters.com   time to read: +1 min
WASHINGTON, Sept 28 (Reuters) - The World Bank's board will discuss plans next month for replacing the bank's flagship "Doing Business" rankings that were canceled in September 2021 after an external report found data irregularities, World Bank President David Malpass said. "The World Bank is very involved in trying to encourage private sector development in countries," he said. Register now for FREE unlimited access to Reuters.com RegisterThe World Bank in February said it is working on a new approach, tentatively dubbed the "Business Enabling Environment" project, that will help countries improve their business environment and attract more investment. The bank scrapped the annual "Doing Business" rankings one year ago, saying internal audits and an external investigation had raised "ethical matters, including the conduct of former Board officials, as well as current and/or former Bank staff." Register now for FREE unlimited access to Reuters.com RegisterReporting by Andrea Shalal; Editing by Christian Schmollinger and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.
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