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NATIONAL, INTERNATIONAL, DILI

TradeInvest and IFC discuss the technical support on the advisory board 

DILI, 6 january 2023 (TATOLI)—TradeInvest of Timor-Leste and the International Finance Corporation (IFC) discussed technical support for the cooperation of the advisory board.

Executive Director of the Investment and Export Promotion Agency, I.P. (TradeInvest Timor-Leste), Arcanjo da Silva accompanied by Director of External Relations and Marketing, Roberto Lai, and TradeInvest Legal Advisor, Sebastião Burnay held a virtual meeting with IFC Senior Operations Officer, Lan Van Nguyen.

According to a note published by Tradeinvest’s official site which is accessed by TATOLI Agency said the discussion was made virtually on wednesday 4 January again discussing technical support for the formation of an advisory board.

“It is important meeting via virtual, the discussion between TradeInvest Timor Leste and IFC focused on development partner to further provide technical assistance to form the TradeInvest Timor-Leste Advisory Board,” wrote the official TradeInvest website.

The formation of the Advisory Board is regulated in Government Regulation no. 58 of 2022 as the first amendment of Law No. 45 of 2015 concerning the establishment of the Investment and Export Promotion Agency, I.P.

IFC has been helping accelerate private sector development in Timor-Leste to create a more inclusive and sustainable economy.

Since 2006, IFC has helped mobilize more than $150 million in private investment and has invested $4.5 million of its own funds. As of April 2022, IFC’s advisory services portfolio consisted of $16.3 million in funds under management.

IFC is the transaction advisor for the Tibar Port, Timor-Leste’s first public-private partnership (PPP). IFC also served as transaction advisor for several other major PPPs, including the expansion of President Nicolau Lobato’s International Airport, the upgrading of the national medical diagnostic system, and an affordable housing project in Dili.

IFC has played a key role in the growth and formalization of microfinance in Timor-Leste, investing $4.5 million of its own funds in Kaebauk Investimentu no Finances (KIF), helping KIF become the country’s first fully licensed microlender.

IFC’s work with KIF has increased people’s access to credit, including in rural areas, supported small businesses, and helped fuel economic activity. IFC’s advisory services have also helped the government cut bureaucracy and significantly reduce the time it takes to register a business.

IFC remains focused on helping Timor-Leste recover from the economic shock and social impact caused by the COVID-19 pandemic, and building towards a green, resilient and inclusive recovery. IFC is primarily focused on increasing overall competitiveness and promoting gender equality.

“Our current priorities in Timor-Leste include creating jobs through investment in sectors such as tourism and agriculture, ensuring the effective use of natural resources, including renewable energy, increasing access to basic services such as health and housing, and expanding access to finance,” wrote the official IFC website.

Journalist: José Belarmino De Sá

Eidtor: Nelia Borges

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