IFC to invest $3m in Philippines’ power sector, including biomass projects

In the Philippines, the International Finance Corporation (IFC), the World Bank’s private-sector division, is planning to invest an additional $300 million in the country’s power sector, including biomass projects. The IFC has already invested $900 million in the Philippines over the past three years, with $600-700 million for the energy sector. The IFC is specifically looking at biomass, wind and mini-hydroelectric power plants and is currently in discussions with various renewable-energy companies.

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