IFC and Pacific tuna fisheries
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IFC and Pacific tuna fisheries Presentation to 7 th SPC Heads of Fisheries Meeting Noumea, 2 March 2011 Peter Cusack
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IFC and Pacific tuna fisheries. Presentation to 7 th SPC Heads of Fisheries Meeting Noumea, 2 March 2011. Peter Cusack. What IFC does. IFC invests, mobilises capital, and advises – promoting private sector-led solutions for inclusive and sustainable economies - PowerPoint PPT Presentation
Transcript of IFC and Pacific tuna fisheries
IFC and Pacific tuna fisheries
Presentation to 7th SPC Heads of Fisheries Meeting
Noumea, 2 March 2011Peter Cusack
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• IFC invests, mobilises capital, and advises – promoting private sector-led solutions for inclusive and sustainable economies
• Promotes open and competitive markets in developing countries
• Supports companies and other private sector partners where there is a gap
• Helps to generate productive jobs and deliver essential services to the underserved
• Measures its impact both commercially and through development impact
In the Pacific, IFC operates in Kiribati, Marshall Islands, Micronesia, Palau, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga and Vanuatu.
What IFC does
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IFC‘s Strategic Priorities• Strengthening businesses in frontier markets, particularly
smaller enterprises
• Building long-term partnerships with emerging global players in developing countries
• Supporting the long-term viability and success of businesses and economies through sustainable environmental, social, and corporate governance practices and analyses of the business environment
• Addressing constraints to private sector growth in infrastructure, health, and education
• Developing domestic financial markets through institution building and the use of innovative financial products
IFC Business in the Pacific
Regional
• Regulatory simplification and investment promotion projects in Vanuatu, Tonga, and Solomon Islands
• Tourism impediments diagnostic in Solomon Islands, Tonga, PNG, Samoa, Timor-Leste, Palau, Vanuatu
• Digicel – PNG, Vanuatu, Tonga, Samoa, Kiribati, and Fiji
• Kula Fund – Pacific Private Equity fund
Timor-Leste
• “Better Business Initiative” facilitating public-private engagement along with business registration project
PNG
• Regulatory simplification and investment promotion and SEZ legislation
• ECOM PNG – agribusiness, investment and technical assistance
• PNG Microfinance – investment and technical assistance
• Bank South Pacific - – investment and technical assistance
• K K Kingston – manufacturing, investment
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Outlook: supporting future sources of growth for Pacific islands countries
Sources of Growth
• Fisheries
• Plantation Forestry
• Plantation Agribusiness
• Tourism
Potential IFC Support
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•Agribusiness, fisheries or plantation forestry investment
•Debt, equity, risk sharing, trade finance
•Linkage programs, to connect investments to local communities
•Microfinance
•Sustainability - certification support
•Investment and business climate reform
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IFC recognises The great economic, social and cultural importance of tuna fisheries to
Pacific Island countries
The serious challenge of resource management, population growth and climate change
Catches of key species have probably peaked, more value cannot be obtained by simply increasing volumes
Determination among PICs to impose access conditions aimed at ensuring resource sustainability and more local benefit
Some firms involved in Pacific tuna fisheries struggle to adequately address social and environmental challenges.
Some firms face investment and business constraints
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Potential for IFC engagement Demand for sustainably and equitably produced tuna points toward
new partnership, market and investment opportunities
Establishment and adoption of international environmental, social and trade standards may help increase and safeguard markets
Fisheries related infrastructure development may be leveraged for wider public good
Improving the climate for tuna fisheries investment and business
Structuring public-private investments
Strategic investment along the supply chain may generate local capacity and wealth, possibly through in-region processing and marketing
IFC Contact details
GAVIN MURRAY
Regional Manager, Pacific
IFC – East Asia and Pacific
Level 18, 14 Martin Place
Sydney, NSW 2000 Australia
Ph: +61 9223 7773
Mobile: +61 411 069 108
Fax: +61 9223 2533
Email: [email protected]
PETER CUSACK
Consultant
Ph: +61 7 5437 7702
Mobile +61 414348823
Fax: +61 7 5437 7702
Email: [email protected]
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