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  23 September 2011 - New Report Finds International Finance Institutions Critical for Job Creation in Emerging Markets 

A new report finds that international finance institutions play a key role in catalyzing job creation and growth through the private sector in emerging markets, particularly as governments face increased pressure on public resources.

The report, International Finance Institutions and Development through the Private Sector, was launched during the World Bank-IMF Annual Meetings. It was produced by 31 international finance institutions (IFIs). Senior officials of more than 20 IFIs are attending the launch event.

 

Key findings of the report are:

  • IFIs provide the private sector in developing countries with critical capital and knowledge. Private sector direct foreign investment finance has reached over US-Dollar 40 billion in commitments a year–about five percent of capital flows to emerging markets.
  • IFIs help companies set standards and manage risk in areas such as environmental and social standards; corporate governance; health and safety, sponsor and business integrity; labor and human rights; revenue transparency; and international financial reporting.
  • IFIs catalyze additional financing from other private sector players. Each US-Dollar 1 of capital supplied to IFI’s can lead to US-Dollar 12 in private sector project investment.
  • IFIs support entrepreneurship and innovation, helping demonstrate the viability of private solutions in new or challenging areas.

 

"The report indicates the key role of development banks and international finance institutions for job creation and economic growth, particularly as governments face increased pressure on public resources", said Andrea Hagmann and Michael Wancata, Members of the Executive Board of Oesterreichische Entwicklungsbank, OeEB.

 

The report was initiated under the sponsorship of the Private Sector Development Institutions Roundtable, an annual meeting of the heads of IFIs that focus on the private sector. The meeting is coordinated by IFC.

For further information please contact:

Angelika Rädler
Corporate Communications
Tel. +43 1 533 12 00-2979
angelika.raedler@oe-eb.at

About OeEB

Oesterreichische Entwicklungsbank AG (OeEB) has been operating as the official Development Bank of Austria since March 2008. It is specialized in the provision of long-term finance for the implementation of private sector projects in developing countries which create sustainable development. OeEB provides tailor-made financing solutions for a diverse set of long-term investments that would otherwise find it difficult to raise funding or borrow money in international capital markets. Additionally OeEB provides Technical Assistance (Advisory Programmes) which can be used to enhance the developmental impact of projects. 



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