by Jocelyn Cheng -

MICROCAPITAL STORY: International Finance Corporation (IFC) Loans the Kyrgyz Investment and Credit Bank (KCIB) USD 5 million to Expand Microfinance Operations and Provides Mortgage Lending Advisory Services to Microfinance Institution Bai Tushum in the Kyrgyz Republic

The International Finance Corporation (IFC), a member of the World Bank Group, announced a pair of microfinance and mortgage initiatives in the Krygyz Republic. On the microfinance side, IFC is extending a USD 5 million loan to the Kyrgyz Investment and Credit Bank (KICB), a full-service commercial bank in the Krygyz Republic. The proceeds will be directed toward expanding lending to micro, small and medium businesses in remote areas of the Krygyz Republic, as well as supporting agricultural projects.

by Greg Casey -

MICROCAPITAL STORY: International Finance Corporation (IFC) Finds that Almost 90 Percent of Potential Lebanese Microfinance Sector Does Not Have Access to Financial Services

A recent International Finance Corporation (IFC) study found that only 11.5 percent of the potential USD 286m Lebanese microfinance market is currently being tapped by microfinance institutions (MFIs). The study noted a lack of funding for MFIs and an underdeveloped focus on small and medium enterprises (SMEs) by commercial banks as the main inhibitors to microfinance growth.

by Diana Yang -

PRESS RELEASE: International Finance Corporation (IFC) Helps Establish Liberia’s First Microfinance Bank

Source: International Finance Corporation (IFC). MicroCapital also recommends the MICROCAPITAL STORY “Central Bank of Liberia Grants License to AccessBank Liberia Limited, a Commercial Microfinance Bank,” July 10, 2008.

by Greg Casey -

MICROCAPITAL STORY: IFC to Invest in LOCKO-bank, increasing funding for microfinance loans to small and medium sized enterprises (SMEs) in Russia

The International Finance Corporation (IFC) has arranged an investment of USD 65m in LOCKO-bank, a Russian commercial bank focused on small and medium enterprises (SMEs). The loan consists of two parts: a three year USD 20m loan from the IFC and a USD 45m syndicate loan.

by Ryan Benson -

MICROCAPITAL STORY: International Finance Corporation (IFC) and BP (British Petroleum) to Finance New MFBA (Micro Finance Bank of Azerbaijan) Branch Offices

World Bank unit IFC (International Finance Corporation) and energy giant BP (British Petroleum) have announced a partnership to assist for-profit microlender MFBA (Micro Finance Bank of Azerbaijan) in expanding microfinance services to Azerbaijan’s untapped rural regions. IFC’s and BP’s assistance will consist of financial support for the establishment of additional MFBA branch offices in the country’s untapped rural areas. BP’s assistance is provided via its affiliate, nonprofit BP Foundation. Neither BP Foundation nor IFC disclosed a specific amount of financial support.

by Sarah Knapp -

MICROCAPITAL STORY: IFC makes $15.6 million Equity Investment in Grupo Mundial for Microfinance and Microinsurance in Central America and Colombia

The International Finance Corporation (IFC) recently made a USD 15.6 million equity investment in financial conglomerate Grupo Mundial Tenedora S.A. IFC now has a 9.9 percent stake in the group. The agreement has been approved by the IFC and is currently “pending signing”.

by Sarah Knapp -

MICROFINANCE EVENT: World Bank, International Finance Corporation (IFC) and Banco Central Do Brazil (Central Bank of Brazil) Host Third Global Credit Reporting Conference: Public Policy & Innovative Solutions For Emerging Markets to be Held in October 2008

THIRD GLOBAL CREDIT REPORTING CONFERENCE: PUBLIC POLICY & INNOVATIVE SOLUTIONS FOR EMERGING MARKETS

OCTOBER 21-23, 2008, SHERATON RIO HOTEL & RESORT IN RIO DE JANEIRO, BRAZIL

The conference to be hosted by the World Bank, the International Finance Corporation (IFC) and Brazilian Ministry of Finance’s Central Bank of Brazil will concern credit reporting infrastructure considering country examples, legal and regulatory framework and the private and public sectors.

by Sarah Knapp -

MICROCAPITAL STORY: International Finance Corporation (IFC) and the Inter-American Investment Corporation (IIC) Invest $9.8m in Rio Bravo Group’s Unik S.A. for $148m Microfinance Fund

Two multilateral financial institutions, the International Finance Corporation (IFC) and the Inter-American Investment Corporation (IIC), have recently invested in Unik, a Brazilian issuer of payroll cards and a financial intermediary between Brazil’s lower-income population and financial services. The IFC will obtain a 12 percent equity stake in Unik, while the IIC will gain 8 percent participation through ownership in Unik’s stock.

by Ryan Benson -

MICROCAPITAL STORY: International Finance Corporation (IFC) to Join German Development Bank Kreditanstalt für Wiederaufbau (KfW) and Venture Capital Firm Advans Group in Launching Commercial Microfinance Institution Advans Banque Congo; Will Provide up to $3.1m in Debt and Equity

IFC (International Finance Corporation), a member of the World Bank Group, has announced it will provide financial assistance in the launching of commercial microfinance institution (MFI) Advans Banque Congo. Based in the Democratic Republic of Congo, Advans Banque Congo will provide microloans to small enterprises and individuals located in the country’s urban areas. IFC’s support of the commercial MFI is its latest project in a campaign to expand microlending to 400,000 entrepreneurs in Africa’s poorest regions.

by Melissa Duscha -

MICROCAPITAL STORY: IFC and Bai-Tushum Microlending Institution Facilitate Leasing Services in Kyrgyz Republic

The World Bank’s International Finance Corporation (IFC) together with the government of the Kyrgyz Republic has developed an amendment to the country’s tax code pertaining to value added tax (VAT) in an effort to expand the leasing sector.