As the government privatization program gains momentum, IFC will be placing greater emphasis on the broader infrastructure sector including electricity, ports and logistics.

The new IFC standards are stronger, better, and more comprehensive than those of any other international finance institution working with the private sector. We aim, with these new policies, to increase the development impact of projects in which we invest. We also seek to give companies operating projects in emerging markets the capacity to manage fully their environmental and social risks and to compete better in a global economy.

The DRC has been successful recently at turning its economy around, from contraction in the early 2000s to estimated growth of seven per cent in 2005. This is particularly impressive considering the challenges this country has faced. The DRC is rich in human and natural resources, and IFC will continue to promote private sector development in support of the country's economic regeneration.

But the growth is uneven, and there is a huge unfinished agenda.

We need to bolster the stability of existing capital markets and flows in the developing world by strengthening domestic financial institutions and deepening local currency markets, We need to improve corporate governance, so that more of the up-and-coming companies that are creating jobs can tap into the capital in the global economy.

We believe there's a real chance the government will raise electricity and water tariffs this year.