The International Finance Corporation (IFC), a member of the World Bank Group, recently announced that it has disbursed a loan of ZMK 200 million (USD 15 million) to Stanbic Bank Zambia, a subsidiary of South Africa’s Standard Bank Group. Commenting on the transaction, Stanbic Bank Zambia CEO Leina Gabaraane said
Search Results for: ifc
MICROCAPITAL BRIEF: IFC Lends $125m to Banco Familiar, Banco Continental of Paraguay for MSMEs, Agribusiness
The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced agreements to issue loans to two commercial banks in Paraguay, USD 100 million to Banco Continental and USD 25 million to Banco Familiar. Banco Continental has agreed to use its funding to
MICROFINANCE PAPER WRAP-UP: “Small Businesses and Digital Financial Services: Predictive Modelling and Segmentation for Market Sizing and Product Design;” Published by International Finance Corporation (IFC), Mastercard Foundation
By Sinja Buri, Morne van der Westhuizen and Soren Heitman; published by the International Finance Corporation (IFC) and the Mastercard Foundation; April 2019; 27 pages; available at https://www.ifc.org/wps/wcm/connect/industry_ext_content/ifc_external_corporate_site/financial+institutions/resources/small+businesses+and+digital+financial+services+predictive+modelling+and+segmentation+for+market+sizing+and+product+design
It is widely believed that the growth of micro-, small and medium-sized enterprises (MSMEs) can catalyze the development of economies such as those in Sub-Saharan Africa. Due to financial institutions’ challenges in identifying where
MICROCAPITAL BRIEF: Insular Life, IFC Launch “InLife Sheroes” Program to Boost Microinsurance Among Women in the Philippines
Insular Life, a Philippines-based insurance company, recently partnered with the International Finance Corporation (IFC), a member of the World Bank Group, to form a program called “InLife Sheroes” to provide Filipino women with skills relating to “financial management, health, and well-being” and offer insurance programs with “specific coverage, bundling of products, and customized add-on services” intended to be of value to women. The program is
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Loans $100m to Equity Bank to Support SMEs, Renewable Energy in Kenya
The International Finance Corporation (IFC), a member of the World Bank Group, recently loaned KES 10 billion (USD 100 million) to the Kenyan member of the Equity Bank Group, a provider of microfinance and conventional financial services in six countries, to: (1) increase its lending to small and medium-sized enterprises (MSMEs); (2) enhance its regulatory capital; and (3) finance renewable energy projects. IFC also will provide Equity Bank Kenya with advisory support related to the subordinated loan, the cost of which has not been revealed. The IFC-funded loans will range in size from KES 1 million (USD 10,000) to KES 200 million (USD 2 million) to benefit firms that fit at least one of the following criteria:
MICROCAPITAL BRIEF: Banco Santander, IFC Lending $300m to Bradesco to Support MSMEs in Brazil
The International Finance Corporation (IFC), a member of the World Bank Group, has agreed to syndicate a loan of USD 300 million for Brazil’s Banco Bradesco to support its lending to micro-, small and medium-sized enterprises (MSMEs). IFC and
MICROCAPITAL BRIEF: TMB Bank Sells IFC $90m in Bonds to Support SMEs in Thailand
The International Finance Corporation (IFC), a member of the World Bank Group, recently purchased USD 90 million in bonds from Thailand’s TMB Bank to support its lending to small and medium-sized enterprises (SMEs). This follows a
MICROCAPITAL BRIEF: Voyager Innovations of the Philippines Raises $215m in Equity from Tencent, KKR, IFC to Bring Digital Financial Services to Rural Areas
Voyager Innovations, which is controlled by the Philippines Long Distance and Telephone Company (PLDT), recently raised a total of USD 215 million in equity from China’s Tencent Holdings; KKR, a US-based investment fund formerly known as Kohlberg Kravis Roberts; and the World Bank Group’s International Finance Corporation (IFC). IFC pledged
MICROFINANCE PAPER WRAP-UP: “Digital Financial Services for Agriculture,” by Wisdom Alorwuse et al, Published by IFC
This is a summary of a paper written by Wisdom Alorwuse, Natalie Baatjies, Margarete O Biallas, Dean Caire, Soren Heitmann, Andrew Kasujja, Ruth Dueck-Mbeba, Joseck Mudiri, Riadh Naouar, Charlotte Ndaw, Rita Oulai, Minakshi Ramji, Beniamino Savonitto and Mark Wensley;
MICROCAPITAL BRIEF: Sa-Dhan, Accion’s Smart Campaign, IFC Launching Tool to Monitor Over-indebtedness Among Microfinance Borrowers in India
Sa-Dhan, an association of 190 financial services providers in India, and the Smart Campaign of US-based NGO Accion recently announced the launch of an online monitoring tool intended to increase consumer protection and reduce over-indebtedness
MICROCAPITAL BRIEF: Banque Misr, IFC to Support Women-led SMEs in Egypt with Market Research, Business-model Development
Egypt’s Banque Misr and the World Bank Group’s International Finance Corporation (IFC) recently agreed to collaborate on an
MICROCAPITAL BRIEF: IFC, Egypt’s Ministry of Investment Connecting African Entrepreneurs, Start-ups with Growth Partners
The International Finance Corporation (IFC), a member of the World Bank Group, and Egypt’s Ministry of Investment and International Cooperation have agreed to identify 100 promising young entrepreneurs to “connect them with business leaders, international investors, financial institutions, and policymakers” in an
MICROCAPITAL BRIEF: IFC to Loan $50m to Itaú Argentina for SMEs, “Green” Lending
The International Finance Corporation (IFC), a member of the World Bank Group, recently agreed to provide Itaú Argentina, a subsidiary of Brazil-based Itaú Unibanco, with USD 15 million to expand funding for small and medium-sized enterprises (SMEs) as well as USD 35 million for “sustainable” energy projects.
MICROCAPITAL BRIEF: IFC Loaning $55m to Argentina’s Banco Industrial (Bind) to Boost SME Lending
The International Finance Corporation (IFC), a unit of the World Bank Group, recently agreed to loan USD 55 million to Argentina’s Banco Industrial (Bind) to provide small and medium-sized enterprises (SMEs) with “longer-term financing than [is] currently available in the local market.” An estimated 70 percent of SMEs in the country have difficulty accessing credit. David Tinel, IFC’s Regional Manager for the Southern Cone, states that for SMEs
MICROCAPITAL BRIEF: IFC Issues $2b in Bonds for Climate-focused, Infrastructure, Women-entrepreneurship Projects in Developing Countries
The World Bank Group’s International Finance Corporation (IFC) recently raised USD 2 billion via a bond issue to finance projects in developing countries that are focused on mitigating climate change, developing infrastructure, increasing opportunities for women entrepreneurs, and expanding financial resources
MICROCAPITAL BRIEF: IFC Issues $9.9m in Local-currency Bonds to Invest in Coopenae for Housing Finance in Costa Rica
The International Finance Corporation (IFC), a unit of the World Bank Group, recently issued CRC 5.7 billion (USD 9.9 million) in local-currency bonds to undisclosed buyers in Costa Rica to raise funds to loan to Cooperativa Nacional de Educatores (Coopenae),
MICROCAPITAL BRIEF: IFC, Azerbaijan to Expand Digital Financial Services in Nakhchivan Autonomous Republic with Funding from Switzerland’s SECO
The World Bank Group’s International Finance Corporation (IFC) recently began working with the government of Azerbaijan to implement a cashless payment system in the Nakhchivan Autonomous Republic, a self-governing territory in Azerbaijan.
MICROCAPITAL BRIEF: IFC Loans $93m to Mahindra Finance for Microloans Targeting Farmers, SMEs, Women in India
The International Finance Corporation (IFC), a unit of the World Bank Group, recently loaned INR 6.4 billion (USD 93 million) to Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a non-banking financial company owned by the India-based Mahindra Group. Mahindra Finance plans to use the funding to expand its lending to small and medium-sized enterprises (SMEs)