IFC holds virtual meeting with Pacific commercial institutions

Senior management from commercial financial institutions in Fiji and the Pacific met via a virtual meeting to discuss ways to work through the global COVID-19 pandemic.

According to a statement from International Finance Corporation, Country Manager for Australia, New Zealand, Papua New Guinea and the Pacific Islands, Thomas Jacobs told banking executives at the virtual meeting that the organisation was working to assist those impacted by the economic downturn.

“With an economic downturn which is expected to leave no Pacific nation unscathed, IFC is also working to help financial institutions in the region continue to back businesses, in particular small and medium-sized companies,” Mr Jacobs said.

“It’s important to keep them operating, and for that they need finance.”

IFC stated it had held more than 35 virtual meetings for banks and financial institutions across Asia-Pacific to assist them to strengthen the important financial sector during a time when the economies were under huge pressure.

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