International Finance Corporation (IFC) sees this year’s annual funding commitments to Singapore remaining near a record level, according to a regional executive.
IFC backed 11 deals in the city state in the financial year ended June 30, totaling US$2.15 billion ($2.9 billion) and predicts a similar amount this period, Riccardo Puliti, IFC’s regional vice-president for Asia and the Pacific said in an interview with Bloomberg on Friday.
The latest forecast boosts the view that the Asian commodities and financing hub will continue to attract capital flows from across the globe.
“I can tell you without going into numbers that the outlook for this year is as strong as last year,” Puliti said in the interview. “I don’t see any reason to perceive a strong slowdown in operations, and I see Singapore doing extremely well for this year as well.”
Puliti also sees a “very good year” across Asia Pacific on the back of continued demand for areas such as trade financing, energy transition and funding gender-led inclusion for small and medium-sized businesses.
IFC funded 123 projects in Asia Pacific in the fiscal year ended June 30, an 11% increase to a record US$12.2 billion, it said in a statement on its website last month.
Chart: Bloomberg
