International Finance Corporation Enters Papua New Guinea’s Financial Sector With Investment in PNG Microfinance

The International Finance Corporation (IFC) will gain a 19% share in PNG Microfinance with a $1 million equity investment, its first investment in Papua New Guinea’s financial sector. Along with Japan’s trust fund, it will fund $2 million for a three-year capacity building technical assistance program; BASIX, an Indian microfinance institution (MFI), will act as the technical partner.

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