Posts Tagged ‘IFC’

Microfinance Focus, Oct 29, 2010: Luxembourg based Venture Capital Investment Company, Advans SA has announced the incorporation of its sixth microfinance institution, Advans Bank Tanzania, in the United Republic of Tanzania. It will be the Advans SA’s second microfinance institution with a full banking status. The first branch will open in December 2010 in the administrative ward of Manzese in Dar es Salaam, the country’s capital ... Full story

Microfinance Focus, Oct 29, 2010: World Bank’s financial arm, International Finance Corporation has proposed an investment in Crédito Real, S.A. de C.V. (CR) a finance company which is fast moving into microfinance in Mexico. The proposed project is a Credit Line for up to MXN 130 million (USD 10 million equivalent) for IFC’s account. The proceeds from the credit line will be used to increase, ... Full story

Microfinance Focus, Oct 29, 2010: International Finance Corporation (IFC), a member of World Bank Group has made its first equity investment in a mobile banking firm in Latin America and the Caribbean region by making an equity investment of $3 million in Panama’s YellowPepper, a mobile banking firm. IFC has also helped in mobilizing an additional $2 million for the company to expand mobile banking and ... Full story

Microfinance Focus, Oct 26, 2010: International Finance Corporation (IFC), the financial arm of World Bank may invest nearly $3 million in the expansion of a new microfinance bank MicroCred Nigeria Microfinance Bank Limited in Kaduna State of Nigeria. IFC is considering investing $1.0 million equivalent in equity, $2.0 million equivalent in debt, and provide $700,000 in technical assistance. The total cash out of the project is ... Full story

Microfinance Focus, Oct 26, 2010: World Bank’s International Finance Corporation (IFC) is helping improve the legal and institutional framework for microfinance in Europe and Central Asia to increase access to finance for microentrepreneurs and general population. To support this effort, IFC in cooperation with Mongolia Financial Regulatory Commission and Microfinance Development Fund organized a study tour in Mongolia on microfinance-related policy for 14 policymakers from Azerbaijan, ... Full story

Microfinance focus, Oct 25, 2010: IFC, a member of the World Bank Group, and FMO, the entrepreneurial development bank of Netherlands, together will provide $30 million to Banco Interamericano de Finanzas for development of long-term financial products for midsize businesses in Peru. The IFC-FMO investment could help increase the number of small-business loans which BIF disburses by at least 3,500 a year from 2010 to 2014.  ... Full story

Microfinance Focus, Sep 24, 2010: PT Bank Internasional Indonesia (BII) and International Finance Corporation (IFC), a member of the World Bank Group, have signed a cooperation agreement to enhance the bank’s products and services towards female entrepreneurs, allowing women to obtain financing for their businesses more easily.  As part of the Cooperation Agreement, IFC Indonesia will advise BII and will assist BII to improve its reach ... Full story

Microfinance Focus, Sep 7, 2010: World Bank’s International Finance Corporation (IFC) together with Bank Sinar Harapan Bali and AXIS launched a mobile-banking project to establish low-cost banking that will help expand access to basic financial services for millions of underserved in Indonesia. The project will be carried out over 16 months, with an initial focus on building awareness and trust in electronic transactions among the target ... Full story

Microfinance Focus, Sep 2, 2010:  World Bank’s International Finance Corporation (IFC) and Daiwa Securities Group have announced their plan to issue a bond later this month to expand access to finance for poor and low-income entrepreneurs in developing countries. This will be IFC’s second microfinance bond.  The first issue in November 2009 raised about 25 billion Japanese yen. The bond is expected to raise up to ... Full story

Microfinance Focus, Sep 1, 2010: International Finance Corporation (IFC), the financial arm of World Bank increased its investments in Sub-Saharan Africa to $2.4 billion during the fiscal year 2010 from $1.8 billion a year earlier. It was the first time IFC's annual investments surpassed $2.0 billion in the region. IFC mobilized an additional $1.1 billion from other investors and approved 40 new Advisory Services projects ... Full story

Microfinance Focus, Aug 27, 2010: World Bank’s financial arm, International Finance Corporation (IFC) has launched the Pacific Microfinance Initiative to improve access to basic financial services for women, rural households, and enterprises in Papua New Guinea, Timor-Leste, and the Pacific Islands. The Australian government is providing 9.5 million Australian dollars toward the total cost of 12.3 million Australian dollars ($11.3 million) for the four-year initiative. The ... Full story

Microfinance Focus, Aug 19, 2010: International Finance Corporation (IFC), the financial arm of World Bank has invested in Suvidhaa’s Inforserve’s USD 7 million second round of funding. Global investors, Norwest Venture Partners (NVP) and Reliance Venture Asset Management Ltd. were the other two investors. Suvidhaa, a retail services aggregator, intends to use the new capital to further enhance its technology platform, broaden its portfolio of consumer ... Full story

Microfinance Focus, Aug 14, 2010: International Finance Corporation (IFC) has lent a $15 million loan to Moldova Agroindbank, in support of the bank’s efforts to help more of the country’s small and medium businesses access the financing they need to grow. The bank also has joined IFC Global Trade Finance Program, which will enable the provision of expanded trade finance for its clients, and connect it ... Full story

Microfinance Focus, Aug 12, 2010: World Bank’s financial arm, International Finance Corporation (IFC)has signed a two-year agreement with Banco Comercial e de Investimentos (BCI) to expand access its Business Edge and SME Toolkit training solutions targeting 200 women entrepreneurs in business management skills and access to information. The training component will cover topics such as controlling costs, budgeting, business planning, assessing market opportunities, customer service, selling ... Full story