The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and the Centre International de Développement et de Recherche (CIDR), a nongovernmental organization based in France, recently announced an agreement “to expand micro health insurance in Senegal to low-income and informally employed individuals”[1] through Pool Micro Assurance Santé, a health services provider in Senegal. Through this agreement, IFC and CIDR aim to extend micro health insurance coverage to 108,000 customers over three years. Additional details regarding the agreement, including the specific health services that will be covered, are not available.
CIDR had a portfolio of projects worth EUR 5 million (USD 6.8 million) as of 2012. IFC has 182 member countries and reported total assets of USD 77.5 billion as of fiscal year-end 2013.
By Juan Blanco, 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] IFC, “IFC and CIDR to Expand Low Income Health Microinsurance Coverage in Senegal,” 2014, http://ifcext.ifc.org/IFCExt/pressroom/IFCPressRoom.nsf/0/C41F8B3F14B6335B85257CDD002A6B20?OpenDocument
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MicroCapital, April 16, 2014, International Finance Corporation (IFC) Commits Support Worth $300k to Back Newly Licensed AB Bank Rwanda, 8th Member of Access Microfinance Holding
MicroCapital, February 11, 2014, International Finance Corporation (IFC) Loans $4m to Grooming Centre in Effort to Reach 780k Nigerian Microenterprises
MicroCapital Universe Profile: International Finance Corporation (IFC)
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