IFC allots $5B to Philippine private sector projects

The International Finance Corp. pledged $5 billion to shore up the private sector in the Philippines. Vipul Bhagat, IFC’s country manager for the Philippines and Thailand said: “To date, we have invested at least $2 billion in various companies in this country. And we are willing to invest another $2 billion, or even $5 billion, in the coming years, given the right opportunities, and with willing and motivated partners from the private sector.” The new investments will focus on the infrastructure, telecommunications, health care, tourism, information technology and financial services sectors. (Source: World Bank pledges to invest up to $5B in RP private sector/Inquirer)

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