The Sri Lanka Energy Services Delivery Project is encouraging the use of environmentally sound renewable energy technologies through the private sector. In Nepal, the Bank is helping the government to formulate a Power Sector Development Strategy to improve the efficiency and financial viability of the power sector, increase power trade, and promote private sector investment. It is also helping to reduce transportation costs associated with trade by establishing an inland container depot for rail transfers, upgrading depots, and streamlining trade and transit procedures. The World Bank Group's private sector lending affiliate also invests in private sector development in the region. The IFC's strategy focuses on enhancing competition and improving the quality of goods and services by supporting firms with potential for world-class performance.
Special emphasis is placed on exports.
The IFC is working to accelerate private participation in infrastructure and is also intensifying its efforts to support private financing of health and education. It is also helping to expand and modernize South Asia's agro-industrial base by supporting firms that focus on export production or efficient import substitution. In addition, the IFC provides support to strengthen basic financial institutions and emerging capital markets in the region, and to develop more sophisticated equity and local debt markets in economies with established comprehensive financial systems. The Bank is supporting efforts by South Asian countries to promote development that is environmentally sustainable and environmental lending as a percentage of the total portfolio has been increasing in recent years. In India, for example, the Bank is providing assistance to strengthen the monitoring of and compliance with environmental laws and standards, especially focusing on the mining sector, air pollution, and coastal and marine area management.