The International Finance Corporation (IFC), the private investment arm of the US-based World Bank Group, recently disbursed a four-year syndicated loan of USD 125 million to National Development Bank (NDB), which is owned by the government of Sri Lanka, in an effort to improve access to funds for micro-, small and medium-sized enterprises (MSMEs) in Sri Lanka.
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MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $14.4m in Equity in Philippine Resources (PR) Savings Banking Corporation to Expand Rural Operations
The International Finance Corporation (IFC), a US-based development finance institution, recently announced an equity investment of PHP 650 million (USD 14.4 million) in Philippine Resources Savings Banking Corporation (PR Savings Bank), a rural commercial bank based in Cauayan City in the Philippines.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Help Guyana Bank for Trade and Industry (GBTI) Improve Risk Management for Small, Medium-Enterprises (SMEs) in Guyana
The Guyana Bank for Trade and Industry (GBTI), a commercial bank in Guyana, recently signed an agreement with the International Financial Corporation (IFC), a member of the US-based World Bank Group, to take part in a two-year financial risk management advisory project.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Capitalization Fund Invests $170m in Banco CorpBanca Colombia
The International Finance Corporation (IFC) Capitalization Fund, an investment fund managed by an arm of the World Bank Group’s IFC, has announced a USD 170 million subordinated bond investment in Banco CorpBanca Colombia (CBC), a subsidiary of CorpBanca, a Chile-based commercial bank that is a subsidiary of Brazil’s Itau Unibanco.
MICROFINANCE EVENT: Financial Times (FT), International Finance Corporation (IFC) to Host “Transformational Business Conference and Awards”, London, June 12, 2014
Event Name: Financial Times/International Finance Corporation (FT/IFC) Transformational Business Conference and Awards 2014
Event Date: June 12, 2014
Event Location: The Intercontinental Park Lane, London, United Kingdom
MICROCAPITAL BRIEF: Goldman Sachs, International Finance Corporation (IFC) Announce $600m Fund for Women-owned Small, Medium-Sized Enterprises (SMEs)
The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and US-based investment bank Goldman Sachs Group (GS) recently announced the establishment of the “Women Entrepreneurs Opportunity Facility,” a USD 600 million credit fund aimed at supporting women-owned small and medium-sized enterprises (SMEs) in emerging economies.
MICROCAPITAL BRIEF: Bandhan of India Borrows $26m From International Finance Corporation (IFC), Seeks $16m From Swiss Investor
Bandhan Financial Services, an India-based microfinance institution (MFI) that offers loans for health emergencies and microenterprise, reportedly has raised INR 1.6 billion (USD 26 million) in debt financing from the International Finance Corporation (IFC), the US-based World Bank Group’s private investment arm, and is seeking to raise another INR 1 billion (USD 16 million) from an unnamed Swiss multinational investor.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Capitalization Fund Loans $65m to Bank of Georgia
The International Finance Corporation (IFC) Capitalization Fund, which is managed by US-based IFC Asset Management Company, has disbursed a subordinated loan facility of USD 65 million to the Bank of Georgia, a commercial bank, to expand lending operations in Georgia.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $4m to Grooming Centre in Effort to Reach 780k Nigerian Microenterprises
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced that it has committed to loan NGN 650 million (USD 4 million) to Grooming Centre, a Nigerian microfinance institution (MFI), to assist in expanding its reach to a total of 780,000 existing small businesses by 2018, including by expanding its coverage in rural areas of the country.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $20m to Attawfiq Micro-Finance for Microlending in Morocco
The International Finance Corporation (IFC), a US-based development finance institution and a member of the US-based World Bank Group, recently loaned USD 20 million to Attawfiq Micro-Finance, a nonprofit microfinance institution (MFI) based in Casablanca, Morocco, for onlending to microenterprises in an effort to further Morocco’s economic development.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan $150m to Yes Bank of India for On-lending to Women-Owned Micro-, Small, Medium-Sized Enterprises (MSMEs)
The International Finance Corporation (IFC), a multilateral development bank and member of the US-based World Bank Group, plans to loan USD 150 million to Yes Bank, a commercial bank based in the Indian city of Mumbai.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan $1.5m to FINCA MDO for Microlending in Tajikistan
IFC, a US-based international financial institution and a member of the US-based World Bank Group, plans to loan USD 1.5 million to Foundation for International Community Assistance (FINCA) Microcredit Deposit Organization (MDO), a microfinance institution (MFI) based in Tajikistan that is a part of the US-based, nonprofit FINCA International microfinance network.
MICROCAPITAL BRIEF: Urwego Opportunity Bank of Rwanda Receives $514k from Development Bank of Austria, “Partnership for Financial Inclusion” of International Finance Corporation (IFC), MasterCard Foundation
The Urwego Opportunity Bank (UOB), a microfinance institution (MFI) in Rwanda, will receive a donation of USD 514,000 from the International Finance Corporation (IFC), a member of the US-based World Bank Group, and the Oesterreichische Entwicklungsbank AG (OeEB), Austria’s development bank, to support the provision of financial services – including mobile services – particularly to women and small-scale enterprises [1].
MICROCAPITAL BRIEF: “Partnership for Financial Inclusion” of International Finance Corporation (IFC), MasterCard Foundation Donates $2.7m to AccessBank Tanzania, FINCA Democratic Republic of Congo (DRC) for Projects Including Mobile Banking
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently notified MicroCapital that it has launched projects with AccessBank Tanzania (ABT), a member of Germany’s Access Microfinance Holding (AccessHolding), and FINCA DRC, a subsidiary of the US-based nonprofit Foundation for International Community Assistance (FINCA International) that operates in the Democratic Republic of the Congo [1].
MICROCAPITAL BRIEF: FINCA Microfinance Holding Raises $48m from International Finance Corporation (IFC), Kreditanstalt fur Wiederaufbau (KfW), Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), responsAbility Global Microfinance Fund, Triodos
The Foundation for International Community Assistance (FINCA) Microfinance Holding (FMH), a for-profit investment vehicle controlled by US-based NGO FINCA International, has announced that it has raised USD 48 million in a second round of investments [1].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Issues $165m in Bonds to Support Women-owned Businesses
The International Finance Corporation (IFC), of the World Bank Group, reportedly has issued USD 165 million in five-year, AAA-rated bonds to support women-owned businesses in emerging markets [1].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Inclusive Business Models Group Publishes Case Studies
The World Bank Group’s International Finance Corporation (IFC), through “Inclusive Business Models Group,” has presented eight new case-studies of initiatives that operate within inclusive business principles [1, 2].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $31m to Fullerton Credit to Support Small, Medium-Sized Enterprises (SMEs) in China
The International Finance Corporation (IFC), a member of the US-based World Bank Group, has announced an investment of CNY 186 million (USD 30.5 million) in Fullerton Credit (FC), a subsidiary of Singapore-based Fullerton Financial Holdings (FFH), to support financial access to small and medium-sized enterprises (SMEs) in western and central provinces of China [1].