IFC and New Zealand Partners in Private Sector Development OVERVIEW IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working in more than 100 countries, IFC committed a record US$43 billion in own-account investments and mobilization from third parties to private companies 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 with New Zealand partners (of which US$17.9 million from own account, and US$12.5 million in mobilization) spread across several sectors and regions. IFC is actively exploring business opportunities with New Zealand companies in co-investments in emerging markets in partnership 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 $6.5 Food & Beverages $18.0 Other $5.9 Total $30.4 *The World Bank Group fiscal year runs from July 1 to June 30 of the following calendar year. PARTNERSHIP WITH THE GOVERNMENT New Zealand is an important contributor to IFC’s Advisory programs through MFAT. MFAT funding focuses, among others, on the East Asia and Pacific region, with a strong focus on the Pacific Islands. As of June 30, 2023, New Zealand’s cumulative historical contribution to IFC’s Advisory and Upstream 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 Ave Pa’Anga Pau (“Send Money Securely”) voucher—a cashless, compliant, and stable 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 Zealand and Australia. More than 150,000 transactions worth over US$42 million have already 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 the product 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 Tonga- Hunga Ha’apai volcanic eruption in January 2022, enabling the product to play an important role in the disaster response. Vietnam Food Safety Program aimed to improve the safety of products such as 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 deliver customized training programs to about 1,000 smallholder farmers based on the basic level of GLOBAL G.A.P. requirements - an internationally recognized set of farm standards dedicated to Good Agricultural Practice - and other relevant 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 Pacific Island 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 Singapore Judith Green, Country Manager Daniel James Crabtree, Partnerships Lead Australia, New Zealand, Papua New Guinea, Asia & Pacific, Australia & New Zealand and Pacific Islands Tel: +65 9855 5883 Tel: +61 2 92356519 E-mail: jgreen2@ifc.org Email: dcrabtree@ifc.org June 2023