The International Finance Corporation, a World Bank Group member created to support private sector development, recently released the annual report “Doing Business 2011: Making A Difference for Entrepreneurs,” which examines the impact of regulations that affect business activity.
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MICROCAPITAL BRIEF: International Finance Corporation (IFC), Confederación de Cámaras Industriales de los Estados Unidos Mexicanos (CONCAMIN) and Instituto Tecnológico y de Estudios Superiores de Monterrey Partner To Launch Web-Based Toolkit for Mexico
The International Finance Corporation (IFC); the Confederación de Cámaras Industriales de los Estados Unidos Mexicanos (CONCAMIN), a group of organizations designed to promote the development of Mexico’s manufacturers and entrepreneurs; and the Instituto Tecnológico y de Estudios Superiores de Monterrey, a technological university in Monterrey, Mexico, have partnered to launch the SME Toolkit Integrapyme in Mexico, a web-based toolkit that has been used since 2006 in other countries to assist managers of micro-, small and medium-sized enterprises (MSMEs).
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Provide Advisory Services to PT Bank Internasional Indonesia (BII)
PT Bank Internasional Indonesia (BII), a private bank with 286 branches in Indonesia, recently signed a cooperation agreement with the International Finance Corporation (IFC), the private sector arm of the World Bank, to receive advisory services on expanding the provision of credit to women and small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Invests $1.1m in Microfinance Institution (MFI) Advans Ghana
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has announced that it will invest GHS 1.58 million (USD 1.1 million) in Advans Ghana, a microfinance institution (MFI) established in 2008 that belongs to the Luxembourg-based Advans Group.
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Provides $29.1m in Guarantees Toward Brazilian Securitized Fund for SMEs
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has committed to issue a BRL 50 million (USD 29.1 million) guarantee for investors in a fund that securitizes loans originated by Banco Industrial Comercial S.A.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) and OPEC Fund for International Development (OFID) Provide $40m to Argentinian Bank, Banco de Galicia y Buenos Aires, for Agribusiness Credit Line, Sustainability Projects
The International Finance Corporation (IFC), a member of the World Bank Group, and the OPEC (Organization of the Petroleum Exporting Countries) Fund for International Development (OFID), a multilateral development finance institution based in Vienna, recently announced an agreement to provide up to USD 40 million to Banco de Galicia y Buenos Aires SA (Banco Galicia), an Argentinian bank, in support of an agribusiness credit line and sustainability projects in Argentina.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Planning Microfinance Policy Study Tour in Mongolia to Assist Policymakers in Eastern Europe and Central Asia
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced it will conduct a microfinance institution tour in Mongolia from October 12 through October 14, 2010, with policymakers from Azerbaijan, Bosnia and Herzegovina, Kazakhstan, Kyrgyz Republic and Tajikistan.
MICROCAPITAL BRIEF: The International Finance Corporation (IFC), Bank Sinar Harapan Bali and AXIS Launch Mobile-Banking Project to Expand Financial Access in Indonesia
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, together with Bank Sinar Harapan Bali, a subsidiary of the Indonesian Bank Mandiri, and AXIS, an Indonesian mobile phone service provider, have launched a mobile-banking project in an effort to establish low-cost banking that will help expand access to basic financial services.
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Provides Microfinance Bank Inecobank Support to Expand Access to Trade Finance in Armenia
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, recently announced that it will provide Inecobank, an Armenian microfinance bank founded in 1996 with total assets of USD 129 million, support expanding access to trade finance for small and medium-sized enterprises in Armenia.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) and IFC African, Latin American and Caribbean Fund Make $75m Equity Investment in Insurance Sector Activities of Caribbean-based Guardian Holdings Limited
The International Finance Corporation (IFC), a member of the World Bank Group that provides investment and advisory services to the private sector in developing countries, recently announced a USD 75 million equity investment in Guardian Holdings Limited (GHL), a financial services group based in Trinidad & Tobago that operates throughout the Caribbean.
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) and the Australian Government Launch the Pacific Microfinance Initiative
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has announced the launch of the Pacific Microfinance Initiative to improve access to basic financial services, particularly for women, rural households, and enterprises in Papua New Guinea, Timor-Leste, and the Pacific Islands.
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Supports Microfinance Institution (MFI) FinTerra in Mexico With Technical Assistance and a $1.18m Loan
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, recently announced that it will provide FinTerra, a Mexican microfinance institution (MFI) founded in 2004, targeted technical assistance aimed at increasing its ability to serve lower- and middle- income borrowers, as well as MXN 15 million (USD 1.18 million) in the form of a credit line.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Provide $25m to Federal Bank, a Private Commercial Bank in India, to Support Small and Medium-sized Enterprises (SMEs)
The International Finance Corporation (IFC), a member of the World Bank Group, will provide financing of USD 25 million to Federal Bank, a private commercial bank in India, to improve support for small and medium-sized enterprises (SMEs) and to boost international trade opportunities. The deal will “facilitate transactions in challenging markets, promote competitive financing and build bank relationships with new institutions, thereby reducing risk and enabling more smaller businesses to engage in trade.”
MICROCAPITAL BRIEF: The International Finance Corporation (IFC) Arranges $135m Syndication for Banco Fibra of Brazil in Cooperation with Banco Itau Europa and Banco Santander
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, recently arranged USD 135 million in syndicated lending for Banco Fibra, a Brazilian bank that reported 2009 total assets of BRL 11.8 billion (USD 6.7 billion). The IFC, a 7.9 percent stakeholder in Banco Fibra, raised much of the funds through Banco Itau Europa of Portugal and Banco Santander of Spain. Through this deal, Banco Fibra aims to expand its services for small and medium-sized enterprises (SMEs) in Brazil.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) and Gesellschaft fur Technische Zusammenarbeit (GTZ) to Provide Technical Assistance to Philippines’ Central Bank to Spur Lending to Small and Medium-Sized Enterprises
The International Finance Corporation (IFC), a member of the World Bank Group, and Deutsche Gesellschaft fur Technische Zusammenarbeit (GTZ – German Technical Cooperation Center), a German government-owned international development organization, are providing technical assistance to the Philippines’ central bank in order to strengthen its supervisory and regulatory capacity for lending to small and medium-sized enterprises. A study last year by Asia Business Monitor showed that approximately 83 percent of small and medium-sized enterprises in the Philippines have experienced difficulties in accessing credit from banks. According to Will Beloe, IFC head of advisory services in the Philippines, greater support from central bank supervisors for commercial banks specializing in lending to small and medium enterprises is expected to increase credit flow to the sector.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $52m to Serbia’s Société Générale Banka Srbija, Which Serves Microfinance Clients, SMEs, Corporates
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced it is providing a EUR 40 million (USD 52 million) loan to Serbia’s Société Générale Banka Srbija, a member of the Société Générale bank group, to increase financing for agribusiness.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) and European Bank for Reconstruction and Development (EBRD) Syndicate $164m Debt Financing Package for Russia’s Transcapitalbank
The International Finance Corporation (IFC), a member of the World Bank Group, and the European Bank for Reconstruction and Development (EBRD), a London-based financial services institution, have jointly raised USD 164 million of debt financing for Transcapitalbank, a Russian bank which primarily supports small and medium-sized enterprises and has total assets of RUB 58 billion (USD 1.9 billion) at December 31, 2009.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Provides $30m Guaranteed by Remittances to Fedecredito in El Salvador
The International Finance Corporation (IFC), a member of the World Bank Group, will provide USD 30 million of debt financing to Fedecredito, a Salvadoran financial cooperative owned by 55 financial institutions, which will be guaranteed by future cash flows of remittances sent by Salvadorans working abroad to family and friends at home.