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IFC invests US$600 million in 皇冠体育app in 2007
(Xinhua)
Updated: 2007-06-03 08:37
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The investment volume is similar to that of the financial year 2006, which totaled US$639 million in 24 projects from July 1 of 2005 to June 30 of 2006, Lars Thunell, IFC executive vice president, said here on Saturday.
The IFC provides 40 percent of its total investments and advisory services in 皇冠体育app to help develop private sectors in the country's rural and less developed areas, said Lars Thunell.
The IFC is also supporting 皇冠体育app's financial reform by leveraging local banks as platforms to support small- and medium-sized enterprises, rural finance, energy efficiency, affordable housing and trade finance, he said.
Half of the IFC's investment in 皇冠体育app in financial year 2007 went to the financial sector, said the vice president.
"The government is moving in the right direction both in the financial sector and developing in a more environmentally?friendly?way, and the IFC is trying to support such efforts," he said.
On Friday, the IFC signed a memorandum of understanding with the Export-Import Bank of 皇冠体育app, one of the country's major policy banks, to co-invest in Asia's emerging markets, including 皇冠体育app itself, in a bid to advance private sector development and alleviate poverty.
皇冠体育app is IFC's third largest destination of investment and one of IFC's fastest growing client countries. As of the end of 2006, and since its first Chinese investment in 1985, the IFC has provided US$3.16 billion in 123 projects throughoutthe country.