IFC and Australia, Partners in Private Sector Development

Washington, DC: World Bank

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Abstract

IFC maintains strong relations with DFAT. Australia ranks 7th among IFC’s development partners in terms of contributions to IFC’s Advisory and Upstream Services globally with cumulative signed contributions totaling (as of June 30, 2023) 250.7 million US dollars. Australia has also contributed 5.8 M to IFC’s Blended Finance Initiatives to support the Global Agriculture and Food Security Program (GAFSP).Australia is one of IFC’s largest development partner for programs targeting the Asia-Pacific region, supporting 11 regional and country-level private sector partnerships including agreed collaborations in Bangladesh, Fiji, Timor Leste, and Vietnam. These partnerships place a strong focus on climate, gender, and inclusion. In November 2022, IFC issued its first green bond in the Australian dollar market, raising 900 million Australian Dollars for climate-friendly projects. The proceeds of the five-year green bond - the largest Australian dollar-denominated deal issued by multilateral development banks in 2022 - will finance IFC investments in climate-smart projects, including clean energy, energy-efficient buildings, transport, green banking, agriculture, and climate adaptation in developing economies.

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