IFC enhances private sector growth in the Philippines

The International Finance Corporation (IFC) is increasing its efforts in the Philippines to support private sector growth. In fiscal year 2024, IFC committed a record $56 billion globally, focusing on sustainable finance and job creation. In January, the Securities and Exchange Commission partnered with IFC to enhance sustainable finance in the debt market. New country manager Amena Arif aims to mobilize investments for financial inclusion and climate change initiatives. Recent IFC projects include a $130 million investment in Asialink Finance Corp. to support micro, small, and medium enterprises, particularly those led by women. IFC also invested in fintech startups and social bonds to promote access to finance for underserved communities.