According to an article in the online publication ‘Trading Markets,’ The Phillippines Central Bank (BSP) has signed an agreement with the International Finance Corporation (IFC), the investment arm of the World Bank, and the German Technical Cooperation (GTZ), a development enterprise of the German government, to receive technical assistance for supervision and regulation of lending to small and medium enterprises (SMEs) [1,2,3,4]. Employees from the BSP will be provided with training programs to enhance supervision and regulation of banks that extend loans to SMEs [1]. Additionally, the IFC and GTZ hope to generally improve BSP examination procedures in terms of SME lending [1]. The ‘Trading Markets’ articles states that SMEs in the Philippines currently struggle with credit access, only receiving 11-21 percent of “total funding requirements,” as opposed to the world benchmark of 30 percent [1]. This agreement, therefore, aims to “[enhance] the enabling policy and regulatory environment” for SME lending [1].
By Christopher Maggio, Research Assistant
About:
International Finance Corporation (IFC)
Description:
The IFC is the investment arm of the World Bank that aims to “foster sustainable economic growth in developing countries.” It uses loan and debt securities, equity investments, and guarantees as instruments of poverty alleviation. It “[invests] in companies and financial institutions in emerging markets” as well as providing technical assistance. The IFC has 182 member countries that “collectively determine its policies, and approves investments.”
Microfinance Information Exchange (MIX) profile:
http://www.mixmarket.org/funders/ifc
Organization’s Website:
http://www.ifc.org/
Just the Facts:
– Country of Incorporation: United States
– Year Founded: 1956
– Committed Portfolio: USD 42.4 billion (as of 30/June/2009)
– Fund Assets Allocated to MFI Investments: USD 1.3 billion (as of 30/June/2009)
– Number of MFI Investments (as of day/month/year): 140 (as of 30/June/2009)
– Area of Operation: Global
– Participant(s)/Backer(s)/Investor(s): World Bank
– Fund Currency: USD
– Principal Investments Officer: André Laude, alaude@ifc.org, (202) 473-0276
Contact:
Headquarters
International Finance Corporation
2121 Pennsylvania Avenue, NW
Washington, DC 20433 USA
Switchboard
(202) 473-1000
General Inquiries
IFC Corporate Relations
Tel: (202) 473-3800
Fax: (202) 974-4384
Inquiries: http://www.ifc.org/ifcext/corresmanage.ns /frmInformationRequest?OpenForm&RequestType=General+Inquiry&
Additional Resources:
World Bank: www.worldbank.org
IFC Access to Finance (A2F) Highlights Report 2009: http://www.ifc.org/ifcext/gfm.nsf/AttachmentsByTitle/A2F-HighlightsReport2009/$FILE/A2F-HighlightsReport2009.pdf
MICROFINANCE PAPER WRAP-UP: IFC Reports on Its Activities: Access to Finance (A2F) Highlights Report 2009: https://www.microcapital.org/microfinance-paper-wrap-up-ifc-reports-on-it…
IFC Annual Report 2009 At a Glance: http://www.ifc.org/ifcext/annualreport.nsf/AttachmentsByTitle/AR2009_AtAGlance/$FILE/AR2009_AtAGlance.pdf
Bibliography:
[1] Trading Markets article from November 13, 2009 entitled ‘BSP, IFC, GTZ team up to increase supervisory, regulatory capacity for SME lending’: http://www.tradingmarkets.com/.site/news/Stock%20News/2651369/
[2] BSP: http://www.bsp.gov.ph/
[3] IFC: www.ifc.org/
[4] GTZ: http://www.gtz.de/en/
Source Article: Trading Markets article from November 13, 2009 entitled ‘BSP, IFC, GTZ team up to increase supervisory, regulatory capacity for SME lending’: http://www.tradingmarkets.com/.site/news/Stock%20News/2651369/
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