Korean investors join IFC-led financing package for infra projects in APAC during fiscal year 2020

Korean investors have partly invested in a $650 million financing package for two infrastructure projects in Asia-Pacific countries during its fiscal year from July 2019 to June 2020, International Finance Corp. said in an announcement Monday.

Of the major private sector investment deals in 12 Asian countries supported by IFC, Korean entities have invested in two projects including a 216-megawatt hydroelectric plant on the Trishuli River in Kathmandu, Nepal worth $450 million. The other one is a $200 million support to Tina River Hydropower Project in Solomon Islands, it said.

These are part of IFC’s $6.7 billion commitment to private sector investment in the Asia-Pacific region during IFC’s fiscal year 2020 that started July 2019 and ended in June 2020.

In addition, IFC strived to cope with the coronavirus pandemic, partly by providing $650 million financing to 13 companies in response to COVID-19 under the new $8 billion fast-track facility.

This is part of IFC’s financing packages to cope with the virus outbreak across the globe, along with $2 billion Working Capital Solutions program. IFC said one of the undisclosed Korean partners is expected to benefit from working capital solutions program.

By Son Ji-hyoung (consnow@heraldcorp.com)