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International Finance Corp., a global development institution, said on Wednesday it hosted a virtual workshop targeting Korean infrastructure developers and investors to allow them to identify new opportunities post-COVID-19.
IFC officials discussed the upsides and challenges of public-private partnership projects in Southeast and Central Asia and highlighted the role of IFC to turn the PPP projects into more bankable ones, according to IFC.
Speakers also focused on environmental and social risks in overseas infrastructure projects that Korean parties should be concerned about.
The online event was part of IFC’s efforts to support the Korean government and local firms to expand resilient and sustainable private sector investments in developing markets, IFC said.
IFC officials representing Indonesia, Bangladesh, Myanmar and Uzbekistan held country sessions, as more Korean parties are increasingly eyeing the region in line with Korea’s New Southern Policy and New Northern Policy respectively, it added.
Opening remarks were delivered by Isabel Chatterton, IFC’s Asia Pacific Regional Industry Director for Natural Resources and Infrastructure; Lee Dae-joong, director of Development Finance Division, Ministry of Economy and Finance; and Vivek Pathak, IFC’s Regional Director for East Asia and the Pacific.
“The pandemic has refreshed three key elements in infrastructure development – recovery, resilience and restructuring. These elements will guide us in finding opportunity from crisis and develop sustainable infrastructure that will support a strong economic recovery in developing countries,“ Lee said.
Since 2014, IFC has provided financing worth over $6.5 billion of long-term commitments for projects involving Korean partners and banks.
By Son Ji-hyoung (firstname.lastname@example.org