IFC and New ZealandPartners in Private Sector Development
OVERVIEW

IFC,

amember

global development

oftheinstitution

emerging

markets. Working

committed

amobilization

recordfromWorldfocusedoninthanmore

US$43 billion

thirdBank Group,partiesin

theistheprivate

sectorincountries,

IFC

own-account investments

andto private

100

largestcompanies

and financial

institutions in developing countries in FY23. Over the last 10 years, IFC had
a long-term cumulative committed investments of US$30.4 million withNew Zealandandpartners(ofwhichUS$17.9

millionfromown account,

US$12.5 million in mobilization) spread across several sectors andregions.
IFC is actively exploring business opportunities with New Zealand companies in co-investments in emerging markets inpartnership with the Ministry of Foreign Affairs and Trade (MFAT).

IFC’s Long-Term Cumulative Committed Investments with New Zealand Sponsors
As of June 30, 2023, IFC’s long-term cumulative committed investments (over the last 10 years) in projects globally with client companies
and project sponsors from New Zealand totaled US$30.4 million across three projects in agribusiness and renewable energy.

Other Sectors
As of June 2023 (US Dollar in millions)Electric Power
Food & Beverages
OtherTotal

$6.5
$18.0
$5.9
$30.4

*The World Bank Group fiscal year runs from July 1 to June 30 of the following calendar year.

PARTNERSHIP WITH THE GOVERNMENT

NewZealandisanimportantcontributor

to

IFC’s

Advisory

programs

through MFAT. MFAT funding focuses, among others, on the East Asia andPacific region, with a strong focus on the Pacific Islands. As of June 30, 2023,
New

Zealand’s cumulative

historicalcontribution

toIFC’s Advisory andUpstream Services was US$41.3 million.
In November 2022, IFC issued its first New Zealand dollar-denominated social bond in the Kauri market, raising NZ$300 million to support underserved communities in developing countries including women entrepreneurs and low-income
households in need of access to essential services.

Examples of Successful Cooperation
Tonga Remittances play a vital role in Tonga's economy, with funds used
for essential expenses, healthcare, and even starting small businesses. The AvePa’Anga Pau (“Send Money Securely”) voucher—a cashless, compliant, andstable remittance product—is an alternative channel that Tau and other Tongans
are now using to send money home. It was developed by IFC and the Tonga
Development Bank (TDB), with support from the governments of New Zealandand Australia. More than 150,000 transactions worth over US$42 million havealready been made between New Zealand and Tonga since the launch of the Ave
Pa’Anga Pau voucher in February 2017, and more than 40,000 transactions worth
over US$13 million have been made between Australia and Tonga since theproduct was replicated in November 2020. The Ave Pa’Anga Pau voucher was
also the first remittance service to be up and running following the Hunga TongaHunga Ha’apai volcanic eruption in January 2022, enabling the product to play animportant role in the disaster response.

Vietnam Food Safety Program aimed to improve the safety of products suchas poultry, fruits and vegetables, thus unlocking new market opportunities,increasing income, and contributing to better food security. IFC provided advisory
services to build awareness for increased food safety standards and delivercustomized training programs to about 1,000 smallholder farmers based on thebasic level of GLOBAL G.A.P. requirements - an internationally recognized
set of farm standards dedicated to Good Agricultural Practice - and otherrelevant standards. The project also provided more intensive package of support
to up to 20 smallholder farmers, helping them acquire GLOBAL G.A.P. certification.

Pacific Resilience Initiative (PRI) The new US$9.5 million Pacific Resilience
Initiative (PRI), launched in June 2023 is the largest bilateral Partnership program
between IFC and MFAT supporting private sector development in the PacificIsland countries. The PRI aims to create private investment opportunities
in the critical areas of sustainable infrastructure and financial inclusion. In pursuing
activities in both areas, IFC’s engagements aim to stimulate and accelerate
an inclusive and sustainable economy and supporting Pacific Island countries
in mitigating the impacts of climate change.

CONTACTS
Fiji

Judith Green, Country Manager
Australia, New Zealand, Papua New Guinea,
and Pacific Islands
Tel: +61 2 92356519 E-mail: jgreen2@ifc.org

June 2023

Singapore

Daniel James Crabtree, Partnerships Lead
Asia & Pacific, Australia & New ZealandTel: +65 9855 5883
Email: dcrabtree@ifc.org