The International Finance Corporation announced plans to set up a new fund that will focus on emerging markets in the Asia-Pacific region

The International Finance Corporation, the investment arm of the World Bank, has announced plans to set up a new fund that will focus on emerging markets in the Asia-Pacific region.

Managed and seeded by IFC Asset Management Company, the IFC Asia Fund will have a target size of $1.5 billion, according to a project disclosure on IFC website. It will focus on various sectors, including financial markets and infrastructure and will be located in one of the member countries of the IFC. The fund will also co-invest in new IFC projects.

IFC AMC will invest 20 per cent of the total commitments made to the IFC Asia Fund, subject to an overall cap of $200 million.