WASHINGTON, DC, May 4, 1998—The International Finance Corporation hosts its Annual Bankers Meeting — which brings together representatives from the international financial community — on May 5-6.
Over 175 representatives from international financial institutions will meet to discuss a range of issues relating to investing in the world’s emerging markets. Main topics include prospects for Asia and opportunities for investment with IFC in Latin America, Europe, Middle East, and Africa. Dr. Duck-Woo Nam, Former Prime Minister of Korea will give a keynote speech on the causes of the crisis in Korea, questions of structural reforms in the banking sector, and the issue of corporate governance.
The meeting is organized by IFC’s Syndications Department. Under the syndications program, commercial lenders provide financing and, alongside IFC, take the commercial risk in financing projects while IFC acts as the lender of record. Investors enjoy the same country risk and tax benefits that IFC derives from its special status as a multilateral development agency.
More than 380 commercial banks and institutional investors currently participate in IFC's loan syndication program. Since it began its syndication program, IFC has placed loan participations totaling $15.2 billion for private sector projects in developing countries.
IFC, part of the World Bank Group, fosters economic growth in the developing world by financing private sector investments, mobilizing capital in the international financial markets, and providing technical assistance and advice to governments and businesses.
Journalists who would like further information on the event or who wish to hear Dr. Duck-Woo Nam’s address should contact Jannette Esguerra (202) 458-5204 or Brigid Janssen, (202) 458-4698.
