WASHINGTON, D.C., Sept. 11—The Mekong Project Development Facility (MPDF) -- a multi-donor funded initiative to assist the domestic private sectors of Vietnam, Cambodia and Lao PDR -- will open two offices in Vietnam, in Ho Chi Minh City (September 16) and Hanoi (September 18). The Hanoi office will serve as the regional headquarters of the Facility.
MPDF is a five year $25 million program managed by IFC and funded by bilateral and multilateral donors including IFC. Its purpose is to assist privately-owned small and medium enterprises (SMEs) to develop professional business plans and feasibility studies in order to better attract financing for project initiatives. In addition to working with companies, MPDF also works on an institutional level with government agencies, industry associations, and other organizations to improve the overall climate for the development of SMEs. MPDF is linked to IFC's second initiative, the Mekong Financing Line (a $5 million IFC fund), which invests in private SMEs.
Mr. Assaad Jabre, Vice President of IFC, who is leading an IFC delegation to Vietnam from September 15-19, 1997, for talks with Government and industry leaders, will visit the MPDF offices. Mr. Jabre will be accompanied by Mr. Javed Hamid, Director, Asia-I; Ms. Khanh Nguyen, Manager; Mr. Kip Thompson, Senior Investment Officer; Mr. David Clark, Projects Officer, and Ms. Ludwina Joseph, Corporate Communications Officer. The delegation will be joined in Vietnam by MPDF's Manager, Mr. Tom Davenport, who is based in Hanoi. "MPDF represents IFC's commitment to support privately-owned SMEs in Vietnam, Cambodia and Lao PDR," said Tom Davenport. "We see this sector as a strong engine for growth in the economy and for job creation and are very pleased to have Mr. Jabre present to demonstrate that IFC is here for the long term to support this pioneering initiative." Mr. Davenport added, "MPDF would not have been possible without the strong support of bilateral and multilateral donor agencies, which have provided most o
f its funding. We remain in close contact with the donors to develop and refine our business strategy."
MPDF has the financial support of Australia, the European Union, Finland, Japan, Norway, Sweden, and Switzerland.
The Government of Vietnam, the World Bank, as well as local and foreign business communities have also been supportive of MPDF.
A third meeting of MPDF Management and Donors-to outline future plans-is scheduled to be held in Hanoi on September 18.
IFC, a member of the World Bank Group, is the largest multilateral source of equity and loan financing for non-state sector projects in developing countries.
–––––
