The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has announced a cooperation agreement with Asociacion La Nacional de Ahorros y Préstamos (La Nacional), a financial institution in the Dominican Republic, to strengthen La Nacional’s risk management and corporate governance practices in an effort to improve its service to its low-income and small and medium-sized enterprise (SME) clients.
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MICROCAPITAL BRIEF: In Japan, International Finance Corporation (IFC), Daiwa Issue $97m in Microfinance Bonds Denominated in South African Rand
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently issued ZAR 884 million (USD 97.1 million) in microfinance bonds to Japanese retail and institutional investors in an effort to expand financial access to poor people in developing countries.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), G20’s Global Partnership for Financial Inclusion (GPFI) Partner to Launch Online “Women’s Finance Hub”
The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and the Group of 20’s (G20’s) Global Partnership on Financial Inclusion have partnered to launch the “Women’s Finance Hub,” an online platform to help advance access to finance for women entrepreneurs.
MICROCAPITAL BRIEF: Equitas, Ujjivan of India Each Borrow $10m from International Finance Corporation (IFC)
The International Finance Corporation (IFC), the private-arm of the World Bank Group, reportedly has announced it will lend USD 10 million in commercial funds each to Indian microfinance institutions (MFIs) Equitas and Ujjivan Financial Services.
MICROCAPITAL BRIEF: International Finance Corporation, Jordan Ahli Bank Launch IFC’s SME Toolkit in Jordan
The International Finance Corporation (IFC), a member of the US-based World Bank Group, and Jordan Ahli Bank, a Jordan-based financial institution, recently launched the SME Toolkit, an initiative of IFC, in Jordan.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Netherlands’ Ministry of Foreign Affairs Partner with Fundacion para el Desarrollo Socioeconomico Rural (FUNDESER) of Nicaragua to Increase Financial Access for Micro, Small Entrepreneurs
The International Finance Corporation (IFC), a member of the US-based World Bank Group, and the Netherlands’ Ministry of Foreign Affairs recently partnered with Fundacion para el Desarrollo Socioeconomico Rural (FUNDESER), a microfinance institution (MFI) in Nicaragua, to improve its credit risk management system as part of the MFI’s ongoing transition into a regulated financial entity under Nicaragua’s Superintendency of Banks and Other Financial Institutions, known by the Spanish acronym SIBOIF.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan Up to $11m to Suryoday Micro Finance of India
The International Finance Corporation (IFC), a member of the US-based World Bank Group, plans to loan up to USD 11 million to Indian microfinance institution (MFI) Suryoday Micro Finance Private Limited.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Acquires 15% Stake in National Bank of Vanuatu for $2.2m
The International Finance Corporation (IFC), the commercial arm of the World Bank Group, recently paid USD 2.2 million to acquire a 15-percent stake in the National Bank of Vanuatu, a financial institution that offers traditional banking services, microfinance and rural banking services in Vanuatu.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Donate $2m to Microinsurance Catastrophe Risk Organization (MiCRO) of Barbados, Insurer to Haiti’s Fonkoze
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced plans to donate USD 1.96 million to the Microinsurance Catastrophe Risk Organization (MiCRO), a Barbados-based company that was established in 2011.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Yes Bank to Create Fund for Small Businesses in India
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has partnered with Yes Bank, a commercial bank headquartered in Mumbai, to establish a fund to support small businesses in northeast India.
MICROCAPITAL BRIEF: Telenor Participates in Launch of MicroEnsure Asia, Opportunity International Sells Stakes in MicroEnsure to International Finance Corporation (IFC), Omidyar Network
MicroEnsure, a microinsurance intermediary founded by US-based nonprofit Opportunity International, has partnered with Telenor Group, a Norwegian mobile communications company, to launch MicroEnsure Asia, which will provide insurance products to Telenor’s business units in Asia.
MICROCAPITAL BRIEF: IFC, Global Agriculture and Food Security Program Invest $10m in Root Capital for Farmers in Africa, Latin America
The International Finance Corporation (IFC), the private-investment arm of the US-based World Bank Group, and the private-sector office of the Global Agriculture and Food Security Program (GAFSP), a multilateral mechanism established by the G20 group of 20 large economies, have announced that each of the organizations will invest USD 5 million in Root Capital, a US-based nonprofit social investment fund.
MICROCAPITAL BRIEF: ACLEDA Bank of Cambodia Borrows $40m From IFC Capitalization Fund
The IFC Capitalization Fund, a global equity and subordinated-debt fund founded by the International Finance Corporation (IFC) and the Japan Bank for International Cooperation, recently issued a subordinated loan in the amount of USD 40 million to ACLEDA Bank Plc, a retail bank based in Cambodia, to augment the bank’s financing of micro, small and medium-sized enterprises.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $5m to La Nacional of the Dominican Republic for Housing, Small and Medium-Sized Enterprise (SME) Lending
The International Finance Corporation (IFC), a member of the World Bank Group, reportedly has disbursed a loan of DOP 195 million (USD 4.8 million) to Asociacion La Nacional de Ahorros y Préstamos, a microfinance institution in the Dominican Republic, to increase its mortgage lending for housing and loan financing for small and medium-sized enterprises.
MICROCAPITAL BRIEF: Banco G&T Continental of Guatemala Borrows $100m from International Finance Corporation (IFC) to Expand Outreach to SMEs in Costa Rica, El Salvador, Panama
Banco G&T Continental, a commercial bank based in Guatemala, recently received a loan of USD 100 million from the International Finance Corporation (IFC) Capitalization Fund, a unit of World Bank Group Member IFC. This loan is intended to help the bank expand services to small and medium-sized enterprises (SMEs) in Costa Rica, El Salvador and Panama.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Launching Business Edge Training Program in South Sudan
The International Finance Corporation (IFC), an arm of the World Bank Group, recently agreed to expand its Business Edge training program, which was launched in 2002, to South Sudan in an effort to aid small businesses within the country.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $5m to Lift Above Poverty Organization (LAPO) of Nigeria
The International Finance Corporation (IFC), an arm of the World Bank Group, recently extended a NGN 800 million (USD 5 million) loan to Nigerian microfinance institution (MFI) Lift Above Poverty Organization (LAPO).
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Daiwa Securities of Asia to Issue Microfinance Bond in South Africa, Turkey
The International Finance Corporation (IFC), a member of the US-based World Bank Group, will issue a microfinance bond to Japanese retail and institutional investors in an effort to expand financial access for poor people in South Africa and Turkey.