The World Bank’s International Finance Corporation (IFC) has established an office in Malaysia, while Zebox, a global accelerator, has set up its Asia Pacific hub in Singapore.
IFC sets up Malaysia office to support sustainable growth
World Bank Group member International Finance Corporation (IFC) has announced the establishment of its office in Malaysia to support the country’s sustainable and inclusive economic growth.
IFC said in a statement on Tuesday that it has already built a pipeline of potential investments in Malaysia that align with its strategic priorities in the country — enhancing productivity through innovation and digitalization, facilitating an inclusive and resilient recovery, and accelerating the country’s response to climate- and nature-related risks.
As part of the establishment of IFC’s presence in Malaysia, Nicolas Marquier, who was recently appointed to oversee the firm’s operations in Malaysia and Brunei Darussalam, has already assembled a staff on the ground in Kuala Lumpur. IFC will co-locate its operations with the World Bank’s offices in Sasana Kijang, a facility established by Bank Negara Malaysia.
Kim-See Lim, regional director for East Asia and the Pacific at IFC, said Malaysia has ambitions to become more prosperous, inclusive, and sustainable, but the public sector cannot achieve these ambitions alone, especially in the wake of a multitude of crises.
“The private sector is essential in supporting the country as it strives to achieve its growth ambitions,” he stressed. “IFC is the ideal partner for Malaysia as it transitions to a greener, more resilient, and more inclusive economy.”
Global accelerator Zebox picks Singapore as APAC hub
Zebox, a global accelerator founded in 2018 by Rodolphe Saadé, has announced the launch of its Asia Pacific hub in Singapore.
The new hub aims to address sustainability challenges across a range of sectors, including logistics, supply chains, transport and energy. It will continue to connect startups and corporates, as with Zebox’s other innovation hubs in Europe, North America, the Caribbean and West Africa.
The company picked Singapore as a hub in the region due to its pro-business policies, digital infrastructure, and a robust pipeline of skilled talent.
ZEBOX Asia Pacific will work with Enterprise Singapore and the Maritime Port Authority of Singapore (MPA) to identify startups in Asia, particularly in Singapore, and match them with corporate partners for co-innovation projects across markets in the Asia Pacific.