The International Finance Corporation (IFC), a member of the World Bank Group, has pledged to support Lesotho’s efforts to streamline its investment climate and increase access to financial services for small and medium-sized enterprises (SMEs).
“IFC is supporting the growth of SMEs in Lesotho by providing access to capacity-building tools such as Business Edge and SME Toolkit. IFC is also actively seeking opportunities to finance microfinance institutions and facilitate increased bank lending to SMEs in the country through a combination of risk sharing facilities and advisory services,” the press release states.
Business Edge is an IFC training system designed to strengthen the management skills of owners, managers and staff of SMEs. The SME Toolkit, which is a component of Business Edge, is an online program that uses information and communication technologies to help SMEs in emerging markets improve their management practices. As reported by MicroCapital at the time, IFC first deployed the SME Toolkit in Trinidad and Tobago in July 2009.
No microfinance institutions report activity to the microfinance information exchange.
About International Finance Corporation (IFC):
A member of the World Bank Group, the International Finance Corporation (IFC) uses loan and debt securities, equity investments and guarantees with the intent of alleviating poverty. It invests in financial institutions and other companies in emerging markets as well as providing technical assistance. The IFC has 182 member countries that “collectively determine its policies, and approve investments.” In fiscal year 2009, its new investments totaled USD 14.5 billion.
By Matthew Fox, Research Assistant
Sources and Additional Resources
International Finance Corporation (IFC) Press Release: IFC Supports Better Investment Climate and Small Businesses Growth in Lesotho, 13 July 13, 2010: http://www.ifc.org/IFCExt/pressroom/IFCPressRoom.nsf/0/DB8F76841C3949128525775F004D8D60?OpenDocument
International Finance Corporation (IFC): SME Toolkit: http://businessedge-africa.com/sme-toolkit.php
MicroCapital Brief: International Finance Corporation (IFC), IBM and Republic Bank Launch Software Platform for Small and Medium-Sized Enterprises in Guyana, 9 March 2010: https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-ibm-and-republic-bank-launch-software-platform-for-small-and-medium-sized-enterprises-in-guyana/
MicroCapital Universe: International Finance Corportation (IFC): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+(IFC)
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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