IFC: Opportunity to develop mechanism to assist Pacific region’s pension
5 September, 2019, 6:30 pm
THE International Finance Corporation (IFC) believes there is a clear opportunity for developing a mechanism that will allow the Pacific region’s pension, provident, superannuation and sovereign wealth funds to co-invest to help deliver much-needed infrastructure in the Pacific.
IFC resident representative for Fiji, Kiribati, Samoa, Tonga and Tuvalu, Deva De Silva said the IFC and World Bank were approached by Pacific Islands Investment Forum (PIIF) to offer technical resources and global expertise based on IFC’s experience working on similar projects in the past.
A statement from IFC says the funds – that are members of the PIIF – are meeting in Samoa this week to decide how they could collectively invest in infrastructure in the region.
PIIF’s membership collectively owns more than $US45 billion ($F93.4b) worth of assets.
The assistance to PIIF is being supported by the Pacific Partnership, through which the governments of Australia, New Zealand and IFC work to stimulate the private sector and reduce poverty.
More in the Business section of tomorrow’s edition of The Fiji Times.