The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and MicroSave, a for-profit microfinance training and technical resource center based in India, recently published a report entitled “Deposit: Assessment in India,” that argues in favor of supporting microsavings services for low-income individuals in India as a way to increase utilization of financial services.
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MICROCAPITAL BRIEF: International Finance Corporation (IFC), Agence Francaise de Developpement (AFD) Host Development Finance Institutions to Discuss Sustainable Development, Finance for Small and Medium-Sized Enterprises (SMEs)
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and the French Agency for Development hosted policymakers and representatives from several development finance institutions (DFIs) on Wednesday to discuss sustainable economic growth and finance solutions for small and medium-sized enterprises (SMEs).
MICROFINANCE EVENT: Financial Times, International Finance Corporation Present FT/IFC Sustainable Finance Conference and Awards, London, June 16, 2011, Submission Deadline for Awards Extended to March 31, 2011
Event Name: Financial Times/International Finance Corporation (FT/IFC) Sustainable Finance Conference and Awards 2011
Event Date: June 16, 2011
Event Location: Renaissance Chancery Court Hotel, 252 High Holborn, London WC1V 7EN
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Reports Village Phone Program Has Provided Credit to 6,000 Women, Trained 10,000 in Madagascar, Malawi and Nigeria
International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, recently announced that the Village Phone Program, an initiative IFC launched in 2006 that aims to connect African telecommunications operators with rural entrepreneurs, has helped provide credit to approximately 6,000 women entrepreneurs and trained approximately 10,000 women to set up phone service businesses in Madagascar, Malawi and Nigeria.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Purchases $48m Equity Stake in Rizal Commercial Banking Corporation (RCBC) of Philippines Aimed At Increasing Lending to Microfinance Clients, Home Buyers, Small and Medium-Sized Enterprises (SMEs)
International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, recently purchased a USD 48.4 million equity stake in Rizal Commercial Banking Corporation (RCBC), a private commercial bank that was established in the Philippines in 1960, with the intention of enabling RCBC to increase lending to microfinance clients and small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Governments of Austria and Japan Train Bankers in Georgia to Provide Financial Services to Small and Medium-Sized Enterprises (SMEs)
International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, is currently training bankers in the nation of Georgia to provide financial services to small and medium-sized enterprises (SMEs). IFC is partnering with the governments of Austria and Japan to offer the three-day program covering strategy and market segmentation, product design, credit risk management and information management systems. The initiative is aimed at building self-sustaining SMEs and strategies for funding these organizations. While reportedly being major drivers of economic growth and job creation in Central and Eastern Europe, SMEs often struggle with financing the growth of their businesses.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), European Donors, USAID Partner for Development of South Sudan Private Sector
The government of South Sudan and the International Finance Corporation (IFC), the private investment arm of the World Bank Group, recently launched a program to develop South Sudan’s private sector with USD 9 million in funding from donors that include the governments of Denmark, Ireland, the Netherlands, Norway and the United States.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Advise Amerika Financiera on Expanding Range of Financial Services to Peruvian Small and Medium-Sized Enterprises (SMEs)
The International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, recently partnered with Amerika Financiera, a Peruvian finance organization that specializes in leasing services for small and medium-sized enterprises (SMEs), to broaden the range of financial products that the company offers.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), Banco Comercial e de Investimentos (BCI) of Mozambique Connect Women Entrepreneurs With Training, Loans Through Small and Medium-Sized Enterprise (SME) Program
The International Finance Corporation (IFC), the investment arm of the World Bank Group, recently completed a program that helped fifty women entrepreneurs in Mozambique acquire business management skills and gain access to financing from Banco Comercial e de Investimentos (BCI), a commercial bank in Mozambique.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Help Maldives Monetary Authority Establish Credit Information Bureau
The International Finance Corporation (IFC), the investment arm of the World Bank Group, a partnership of multilateral development organizations based in Washington, DC, recently announced that it has been helping the Maldives Monetary Authority set up the country’s first credit information bureau.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Grants $771k to Bank South Pacific (BSP) Rural Through Pacific Microfinance Initiative to Bring Electronic Banking Services to Rural Entrepreneurs in Papua New Guinea
The International Finance Corporation (IFC), the investment arm of the World Bank Group, a multilateral development finance organization based in Washington, DC, recently provided Bank South Pacific (BSP) Rural, a subsidiary of the privately-owned commercial bank BSP, a USD 771,000 “performance-based” grant through the Pacific Microfinance Initiative, a joint effort between the Australian government and IFC, to bring electronic banking services to small business owners in Papua New Guinea.
MICROCAPITAL BRIEF: In Partnership With Banco Itaú Europa, Commerzbank, Israel Discount Bank and Banco Security, International Finance Corporation (IFC) Syndicates $45m to Banco Industrial do Brasil (BIB) to Support Small and Medium-Sized Enterprises (SMEs)
The International Finance Corporation (IFC), the investment arm of the World Bank Group, a multilateral development finance organization based in Washington, DC, recently disbursed a syndicated loan equivalent to USD 45 million to Banco Industrial do Brasil (BIB), a commercial bank based in São Paulo, Brazil, with the intent of increasing financing initiatives for small and medium-sized enterprises (SMEs) in Brazil.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $35m in Equity of Indian Microfinance Institution (MFI) Bandhan Financial Services
The International Finance Corporation (IFC), the investment arm of the World Bank Group, a multilateral development finance organization based in Washington DC, will make an INR 1.6 billion (USD 35.1 million) equity investment in Bandhan Financial Services, a microfinance institution (MFI) based in Kolkata, India, to expand its operations in the country. The deal is reportedly the largest equity investment in an Indian MFI since the turmoil in the microfinance industry in Andhra Pradesh began in late 2010.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Proposes $10m Investment in Shree Mahila Self Employed Women’s Association (SEWA) Bank of Gujarat, India, for Microfinance
The International Finance Corporation (IFC), the investment arm of the World Bank Group, a multilateral development finance organization based in Washington DC, has submitted a proposal to its board of directors for an investment of up to USD 10 million in Shree Mahila Self Employed Women’s Association (SEWA) Bank, subject to regulatory approval by the Reserve Bank of India (RBI).
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Invests $20m in Banco Triângulo SA (Tribanco) to Support Lending to Micro-, Small and Medium-Sized Enterprises (MSMEs) in Brazil
International Finance Corporation (IFC), the private sector arm of the World Bank Group, is making a USD 20 million equity investment in newly issued common shares of Banco Triângulo SA (Tribanco), a Brazilian bank that primarily serves small businesses. IFC’s investment in Tribanco supports a partnership that began six years ago when IFC provided USD 25 million in funding to the bank.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Provides $76m Loan to Bancpost to Support Lending to Micro-, Small and Medium-Sized Enterprises (MSMEs) in Romania
International Finance Corporation (IFC), the private sector arm of the World Bank Group, is providing a EUR 58 million (USD 76.3 million) loan to Bancpost, a universal bank established in Romania in 1991, for lending to micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Expands Microinsurance in Kenya and Rwanda through Syngenta, International Livestock Research Institute, MicroEnsure
Recently, the International Finance Corporation (IFC), an organization under the World Bank Group that has been a significant source of financing for the microfinance industry, agreed to confer to three microinsurance projects in East Africa a grant of USD 4.1 million, which is expected to allow 35,000 farmers and 5,000 livestock herders in Rwanda and Kenya to protect their crops and livestock from natural disasters.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Lends $1M to Cameroonian Microfinance Institution (MFI) Advans Cameroun
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, recently provided XAF 500 million (approximately USD 1.01 million) in local currency loan to Advans Cameroun, a microfinance institution (MFI) that is controlled by the Luxembourg- based investment firm Advans SA.