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IFC to Invest 350 Million Dollars into Korea

Feb 17,1999
The International Finance Corporation(IFC), a substructure of the World Bank, will invest more than 350 million dollars into Korea.
Deepak Canna, president of the IFC branch in Seoul, announced on February 17, 'The IFC will set up an Asia Restructuring Fund with a scale of 750 million dollars, and out of that invest 250 million dollars in Korea. The IFC will invest an additional 100 million dollars into Korea through H&Q, an American investment firm.'
The Asia Restructuring Fund is the largest of its kind established by the IFC since the Asian financial crisis. It will invest in Asian countries including Korea, Thailand and Malaysia. In Korea, the Fund will invest in 10~15 promising, small and medium-sized companies, Canna said.


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