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WASHINGTON, D.C., Nov. 28, -- Mr. Harold Rosen, Divisional Manager, Asia Department in the International Finance Corporation (IFC), will lead a delegation of IFC executives to New Zealand from 4 to 7 December, 1995. The purpose of the visit is to consult with government and industry leaders on initiatives to promote New Zealand business in the developing countries of the Asia-Pacific region. IFC, a member of the World Bank Group, is the largest multilateral source of equity and loan financing for private sector projects in developing countries. In financial year 1995, IFC's project financing activities in the Asia-Pacific region amounted to US$691 million, representing 24 percent of the Corporation's investment portfolio. Loan syndications amounted to an additional US$752 million, bringing total financing approved in the Asia-Pacifc region to US$1.4 billion. The IFC delegation will make presentations to New Zealand industry and financial institutions in Wellington (December 4) and Auckland (December 5 and 6).
The presentations will inform New Zealand firms interested in investing in Asia-Pacific or other areas of the developing world of the investment and technical assistance services IFC provides. The delegation will also describe IFC's loan syndications program that enables banks to make loans in new markets. IFC is optimistic about the broad scope of investment opportunities for New Zealand companies in emerging markets. The Corporation sees infrastructure, power, telecommunications, timber, pulp, and paper, construction, engineering industries, general manufacturing, agribusiness, tourism, and financial services as potential sectors for investment by New Zealand firms. According to IFC, Southeast Asian countries offer openings in the sectors where New Zealand companies are strong and can provide valuable expertise. IFC Press Release No. 96/59 Page 2 of 2 In the past, two New Zealand companies, Fletcher Challenge Limited and Sunds Defibrator, have worked with IFC to provide technical assistance and capital goo
ds to two timber and pulp projects in Brazil and Chile. Commenting on his visit, Mr. Rosen said, "Because of New Zealand's geographic proximity to the dynamic Asia-Pacific region, it makes sense for New Zealand businesses to expand where there is a substantial potential for growth. IFC is well- positioned to support New Zealand companies in this expansion through the provision of finance and advice. We are offering services to help companies go into a country which may be unfamiliar to them and where it may be difficult to raise limited recourse project finance. Our key role is in assisting medium-sized companies make their first venture into a new and challenging environment where they need to know how to operate, how to find a business partner, and how to raise capital. We view New Zealand companies as good potential partners and seek to be involved in their projects." Mr. Rosen added, "We can also demonstrate to New Zealand banks that IFC offers safe, sound banking practices with a good return, and that th
ere is a way for them to lend to ventures in countries where they have not been before but where IFC has the advantage of having worked for some time." IFC maintains five field offices in the Asia-Pacifc region -- Bangkok, Jakarta, Manila, Beijing, and New Delhi -- as well as an office of the South Pacific Project Facility (SPPF) in Sydney, which supports investment in the Pacific Islands. IFC's strong regional presence, which dates back in some cases to 20 years, enables the Corporation to help foreign investors establish profitable ventures, secure long-term finance, and provide technical and management expertise. Accompanying Mr. Rosen will be Mr. Tim Krause, Senior Investment Officer in the Asia Department; and Mr. Neil Paterson, IFC Adviser, Australasia, who is based in Sydney. The delegation will also meet with senior officials in the government about New Zealand's involvement with IFC, especially its support for the SPPF. A meeting of the donors and advisory board of the SPPF is scheduled to take place
on December 7 in Auckland.
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