Spring Meeting of the
International Monetary Fund (IMF) and World Bank
PARTICIPATION OF THOMASLLOYD AT THE IMF SPRING MEETING 2017
ThomasLloyd became the first European infrastructure asset manager to speak at the Spring Meeting of the IMF and World Bank.
April 2017, Washington D.C.
High-ranking representatives of ThomasLloyd took part in the internationally renowned Spring Meeting of the International Monetary Fund (IMF) and the World Bank in Washington D.C. As part of an extensive programme, the World Bank subsidiary International Finance Corporation (IFC) presented ThomasLloyd's infrastructure projects as characteristic examples of IFC funding.
"We are delighted to have been here today to give a detailed presentation of our projects and our experience of working with the IFC. Furthermore, we are honoured that our projects were presented in this forum as models for the implementation of IFC funding. The invitation from the IFC to the Spring Meeting of the IMF and the World Bank is a further indication of the standing enjoyed by ThomasLloyd and its sustainable infrastructure projects."
Tony Coveney, Managing Director and Head of Project Finance of the ThomasLloyd Group
Spring Meeting of the International Monetary Fund (IMF) and World Bank.
The annual Spring Meeting of the International Monetary Fund (IMF) and the World Bank took place in Washington D.C. from 21 to 23 April 2017. It is considered to be one of the most important conferences in the world, bringing together all the finance and development ministers of the G20, central bank governors from 188 member states and the Internal Monetary and Financial Committee (IMFC), including such high-ranking figures from finance and politics as Christine Lagarde, Director of the IMF, World Bank President Jim Yong Kim, Jean-Claude Juncker, President of the European Commission, Jens Weidmann, President of the German Bundesbank and German Finance Minister Wolfgang Schäuble, who came to the conference to discuss current global financial affairs. Talks covered subjects such as the global economic outlook, developments in markets and regions, the results of work to reduce poverty and the effectiveness of development aid.
ThomasLloyd was a speaker at the Development Partner Forum of the International Finance Corporation (IFC).
Under the agenda "Blended Finance in Climate Change", ThomasLloyd also took part as a speaker. The exclusive IFC event – ThomasLloyd was the only IFC project development partner to be invited for Asia – is the annual meeting place for development partners, selected IFC clients, IFC management and high-ranking government representatives from those countries that take part in the IFC programme to promote the financing of clean energy projects by the private sector. Those present included Philippe Le Houerou, CEO of the IFC, Nena Stoijkovic, IFC Vice-President, and Sarah Fountain Smith representing the Canadian government.
The ThomasLloyd projects were also explicitly presented as model examples for IFC funding. Background: in August last year ThomasLloyd and the IFC, with the support of the Canadian government, the Clean Technology Fund (CTF), Bronzeoak Philippines, Inc. and WBE (Hong Kong) International Green Energy Limited, signed loan agreements for USD 161 million to finance 70 MW biomass power plants on Negros Island in the Philippines.
In this context Tony Coveney reported on his experience of working with the IFC and the results that the funding made possible for the further development of these projects and so also for the local population. Because from an economic perspective, the IFC investment made a major contribution to the three projects currently in the biomass portfolio; by accelerating the investment cycle, increasing diversification, minimising risks and sustainably boosting the profitability of ThomasLloyd's infrastructure portfolio.