EAST ASIA & THE PACIFIC

IFC in Pacific Islands

IFC’s work in Pacific Islands nations spans Fiji, Kiribati, the Marshall Islands, the Federated States of Micronesia, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu. Across these nations we are working with the private sector, governments, and our development partners – Australia and New Zealand – to mobilize investment and drive sustainable, inclusive and resilient growth that maximizes economic opportunity for all.

Nations in the Pacific are at the forefront of climate change and are highly vulnerable to natural disasters. They face many challenges in the delivery of essential infrastructure in sectors such as sustainable energy, health, transport, logistics, and telecommunications. Pacific Island nations are also among the world’s least gender equal countries.

To help the Pacific forge a sustainable path ahead, there’s a clear need to develop a strong and engaged private sector, which can be a chief incubator of jobs and create opportunities for people. Mobilizing private capital to help build resilience and spur sustainable development is vital for the region's future.

In the Pacific, IFC is focusing on developing new opportunities for private sector investment to drive jobs and growth, helping nations build resilience to the harmful impacts of climate change and natural disasters, and recover from the devastating economic impacts of COVID-19. We are helping to increase financial inclusion, boost renewable energy, develop affordable housing, and ensure gender inclusion is built into private sector development.

Our projects include:

· Investments in National Bank of Samoa and HFC Bank in Fiji as part of our work to increase access to finance for small and medium enterprises, boost trade and support economic growth.

· Using innovative public-private partnerships to create climate-resilient, affordable housing, transformative solar power generation, and a major tuna processing plant.

· Advancing gender equality and inclusion through working with the private sector to address issues such as gender-based violence and the provision of childcare, as well as broadening economic opportunities for women.

· Helping to boost private investment in the tourism industries in Fiji and, in partnership with MCC, Solomon Islands.