The International Finance Corporation (IFC), the private investment arm of the World Bank Group, will provide USD 25 million to Financiera Creditos Arequipa SA (Financiera Crear), a Peruvian microfinance company.
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MICROCAPITAL BRIEF: Belize’s Atlantic Bank, CIDA, IFC Seek to Improve Banking Access for Small and Medium-Sized Enterprises
The International Finance Corporation (IFC), a member of the World Bank Group, and Atlantic Bank of Belize, with support from the Canadian International Development Agency (CIDA), are working to improve access to financial services for small and medium- sized enterprises (SME) in Belize.
MICROCAPITAL BRIEF: Advans, International Finance Corporation (IFC), KfW Bankengruppe, FMO to Start La Fayette Microfinance Bank in Nigeria with $6.2m in Equity Investments
Advans SA, a Luxembourg-based microfinance investment vehicle, has partnered with the International Finance Corporation (IFC), a US-based member of the World Bank Group; KfW Bankengruppe, a German development bank; and Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), a Netherlands-based public-private development bank, to create a microfinance bank in Oyo State, Nigeria.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Lends $30m to Agricultural Cooperative Bank of Armenia (ACBA)-Credit Agricole Bank to Support Micro-, Small and Medium-Sized Enterprises (MSMEs), Agribusinesses
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has made a loan of USD 30 million to Agricultural Cooperative Bank of Armenia (ACBA)-Credit Agricole Bank to increase lending to micro-, small and medium-sized enterprises (MSMEs) and agribusinesses in Armenia.
MICROCAPITAL BRIEF: IFC Advising FINO in Effort to Extend Financial Services to 100m Indians Over 3 Years
The International Finance Corporation (IFC), a member of the World Bank Group, has agreed to provide advisory support to Indian for-profit technology and services provider Financial Information Networks and Operation (FINO) in its goal to bring financial products such as microinsurance, remittance and deposit services to 100 million clients in India over the next three years.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), India’s Microfinance Institutions Network (MFIN) Promote Reporting to Credit Information Bureau
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and the Microfinance Institutions Network (MFIN), a self-regulatory organization of Indian microfinance institutions, are working together to encourage microfinance institutions to start reporting to the country’s Credit Information Bureau, which is intended to promote responsible lending.
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) to Invest $1m in Equity in ACCION Microfinance China
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has signed an agreement with ACCION International, a US-based nonprofit organization, to invest USD 1 million in ACCION’s Chinese affiliate, ACCION Microfinance China (AMC).
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Mobilizes $40m to Support Peruvian Microfinance Institution Mibanco
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has recently arranged a syndicated debt deal that will mobilize USD 40 million in long-term financing from IFC and other unnamed participants to support Peruvian microfinance financial institution Banco de la Microempresa SA (Mibanco) in increasing access to financial services for micro-, small and medium-sized enterprises (MSMEs) and low-income households in Peru.
MICROCAPITAL BRIEF: Money Manager Christofferson, Robb and Company to Establish $400m Fund to Facilitate Commercial Investment in Small and Medium-Sized Enterprises (SMEs); International Finance Corporation (IFC) Commits $100m
Christofferson, Robb and Company (CRC), a private UK- and US-based money manager, is working to raise USD 400 million for a new “capital release fund” that will allow banks and financial institutions in developed countries to reduce the amount of capital that must be set aside against losses from their loans to small and medium-sized enterprises (SMEs) in developing countries.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $5m to Kenya Commercial Bank (KCB) Rwanda to Expand Mortgage Program, Small and Medium-Sized Enterprise (SME) Lending
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, will loan RWF 3 billion (USD 5 million) to the Rwandan subsidiary of Kenya Commercial Bank (KCB) Group, a publicly-traded financial services company, to expand its mortgage finance program and for lending to small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: Indian Microfinance Institution Bandhan Financial Services Raises $29m in Equity from International Finance Corporation (IFC), Arranged by Intellecap
Indian microfinance institution (MFI) Bandhan Financial Services Private Limited recently raised INR 135 crore (the equivalent of USD 29 million) from the International Finance Corporation (IFC), the private-investment arm of the World Bank Group [1].
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan $10m to Metcombank of Russia for On-Lending to Small and Medium-Sized Enterprises (SMEs)
International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to loan RUB 300 million (USD 10.3 million) to Joint Stock Company Metallurgic Commercial Bank (Metcombank), a private Russian lender.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan $50m to Panama’s Banco General to Support Expansion of Mortgage Lending to Low-Income Households
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has agreed to provide long-term debt financing of seven years worth USD 50 million to Panamanian commercial lender Banco General, to increase the bank’s mortgage lending program for low-income households.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Capitalization Fund, Africa Capitalization Fund (ACF) to Invest $10m in NBS Bank of Malawi for Lending to Small and Medium-Sized Enterprises (SMEs)
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has announced that two of the funds it manages, the IFC Capitalization Fund and the Africa Capitalization Fund, will invest a total of USD 10 million in equity in Malawian commercial bank NBS Bank (formerly the New Building Society).
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Hold Workshop on “Equator Principles” for Thai Banks Regarding Environmental and Social Risk Management
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently announced it is supporting the Thai Bankers’ Association to help its members better manage environmental and social risks in lending operations and improve the sustainability of financed projects rather than the sustainability of lending services.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), FMO of The Netherlands to Loan $30m to Costa Rica’s National Cooperative of Educators (Coopenae) for Housing Finance, Support to Small- and Medium-Sized Enterprise (SMEs)
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and the Netherlands Development Finance Company (FMO in Dutch), a public-private partnership, will each provide local currency loans of CRC 7.8 billion (USD 15 million) to Costa Rica’s National Cooperative of Educators (Coopenae), a finance company that provides credit, savings and insurance products in the country.
MICROCAPITAL BRIEF: IFC to Invest $500m in China in Renewable Energy, To Develop Microfinance Institutions as Conduits for Rural Finance, Agribusiness
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly plans to invest up to USD 500 million in China during the 2011-12 fiscal year, with emphases on developing agribusiness and rural finance through microfinance institutions (MFIs) and developing the country’s renewable energy industry.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Funds $80m Liquidity Facility to Bangladeshi Local Banks to Meet Small and Medium-Sized Enterprise (SME) Funding Needs
The International Finance Corporation (IFC), the private investment arm of the World Bank Group, recently announced it has provided a USD 80 million short-term liquidity facility to local commercial banks in Bangladesh to meet the working capital and trade financing needs following recent market disruptions that have reportedly decreased the availability of foreign exchange in the country.