MICROCAPITAL BRIEF: Dingyi Venture Capital of China Grants $3m to International Finance Corporation (IFC) to Fund Assessment of Financial Services Available to Microenterprises in Rural China, Other Initiatives

Dingyi Venture Capital of China has awarded a grant of USD 3 million to the International Finance Corporation (IFC), the private investment arm of the World Bank Group, to fund various initiatives in rural China including an assessment of existing financial services available to microenterprises. The assessment will aim to identify challenges and provide recommendations for expanding such services. Additionally, a portion of the funds will be used to promote best practices for providing financial services to small businesses in rural areas. According to a statement attributed to Li Kwong Yuk, Chairman of Dingyi, this partnership with IFC will facilitate financial inclusion to “increase [Dingyi’s] support for the disadvantaged in China.”

Dingyi Venture Capital is a part of Dingyi Group Investment Limited, an investment holding company based in Hong Kong. As of March 2013, Dingyi Group Investment Limited reports total assets (less current liabilities) of HKD 231 million (USD 29.8 million). IFC has 182 member countries and reported total assets of USD 77.5 billion.

By Meraj Husain, Research Associate

About International Finance Corporation (IFC)

The International Finance Corporation (IFC), a US-based multilateral development bank and member of the World Bank Group, offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. The IFC has 184 member countries and reported total assets of USD 77.5 billion as of fiscal year-end 2013.

Sources and Additional Resources

[1] International Finance Corporation: “IFC and Dingyi Venture Capital to Improve Financial Services for Micro and Rural Chinese Enterprises,” http://ifcext.ifc.org/ifcext/pressroom/IFCPressRoom.nsf/0/EA0E0A4D26E2EAF385257CBE00466342

MicroCapital, November 21, 2013, “International Finance Corporation (IFC) Loans $31m to Fullerton Credit to Support Small, Medium-sized Enterprises (SMEs) in China,” https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-loans-31m-to-fullerton-credit-to-support-small-medium-sized-enterprises-smes-in-china/

MicroCapital, May 1, 2013, “International Finance Corporation, Bank of Shanghai Launch $80m Loan, Advisory Program Supporting Energy Upgrades for Small, Medium-sized Enterprises,” https://www.microcapital.org/microcapital-brief-international-finance-corporation-bank-of-shanghai-launch-80m-loan-advisory-program-supporting-energy-upgrades-for-small-medium-sized-enterprises/

MicroCapital, July 2, 2012, “International Finance Corporation (IFC) to Loan $50m to Jiangsu Financial Leasing of China for On-lending to Small and Medium-Sized Enterprises (SMEs) in Education, Healthcare,” https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-to-loan-50m-to-jiangsu-financial-leasing-of-china-for-on-lending-to-small-and-medium-sized-enterprises-smes-in-education-healthcare/

MicroCapital Universe Profile: International Finance Corporation (IFC)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29

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