Thursday, 6 October 2016

IFC launches new platform to mobilize $5 billion for infrastructure investments in emerging markets

Right. The second PR email this morning, back by very popular demand. Let’s get it done quickly because I'm bored now.

Washington, D.C., - IFC, a member of the World Bank Group, has launched an innovative program that aims to raise $5 billion from global institutional investors to modernize infrastructure in emerging markets over the next five years, opening up a new stream of capital flows to improve power, water, transportation, and telecommunications systems in developing countries.

Well, well ...

The initiative, called MCPP Infrastructure, builds on the success of IFC's Managed Co-Lending Portfolio Program, a loan-syndications initiative that enables third-party investors to participate passively in IFC's senior loan portfolio. In its first phase, the program allocated $3 billion from the People’s Bank of China across 70 deals in less than two years. It demonstrated how large investors can benefit from delegating the processes of deal origination and approvals to IFC. The first partnership under the program was signed with the global insurance company Allianz. Under the agreement, Allianz intends to invest $500 million, which will be channelled into IFC debt financing for infrastructure projects in emerging markets. IFC is also in advanced discussions with Eastspring Investments, the Asian asset management business of Prudential, for a commitment of $500 million. Similar discussions are being conducted with AXA, also for a commitment of $500 million. MCPP Infrastructure is designed for ...

Okay. That's enough. 'Oh, boss. Let's hear from Philippe Le Houerou.' No! 'Please!' Christ!

"Modern infrastructure is essential for economic growth and lasting prosperity," said IFC Executive Vice President and CEO Philippe Le Houerou. "Yet a huge investment gap exists in this sector - totalling trillions of dollars a year in emerging markets alone. MCPP Infrastructure marks a breakthrough in the search for large-scale financing solutions to the challenges of development. It is a key building block in the global effort to move from billions to trillions in development finance."

Are you happy now, Voice? 'And Oliver Bate.'

Oliver Bate, CEO of Allianz SE, said: "We work to ensure that our activities are profitable and sustainable. We create long-term value by embedding sustainability in our core business. The partnership with IFC and our co-investment in infrastructure is a perfect example how Allianz can provide thought leading investment expertise to support the economic development of emerging countries as well as serving the interest of our customers."

'Thanks.' Okay. It's the end of the week. Let me say it in clear, precise English: I HAVE HAD ENOUGH!!!