More private investments urged as Covid wanes

The International Finance Corp. (IFC) called for a greater push for more private investments in Asia and the Pacific to create jobs and boost output, especially in the outlay-starved infrastructure sector, as the region anticipates the impact of an expected global slowdown.

Economies in the region, including the Philippines, continue to endure the effect of COVID-19 disruptions, the Russian invasion of Ukraine, and tightening global financial conditions.

The IFC’s parent firm, the World Bank, said in the January update of its Global Economic Prospects report that weaker global growth and more frequent disruptive weather events linked to climate change threaten to dampen the region’…

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