MICROCAPITAL BRIEF: Microsoft, IFC to Support Women Entrepreneurs, Forcibly Displaced Populations in Brazil with Business, ESG, Technology Training

Microsoft, a US-based technology firm, and the International Finance Corporation (IFC), a member of the World Bank Group, recently entered a partnership to deliver business and technology training in Brazil. This is to result in: (1) a publicly available workshop on January 26 regarding how to incorporate environmental, social and governance (ESG) elements into a young business; (2) technology training for forcibly displaced populations (FDPs) to boost their prospects in the labor market; and (3) a program for women entrepreneurs. While the timing of the training for FDPs has yet to be announced, the program for women will run from March to November 2021. This program is a series of workshops provided by IFC staff that will cover “technical knowledge and encourage the exchange of experiences to improve [each participant’s] business model and further expand the startups’ future fundraising opportunities.” In addition to the above, the Microsoft-IFC partnership is to involve unspecified “investments in…health, education, insurance, law, and sustainability.”

Founded in 1975, Microsoft offers software and related services to businesses and individuals. The firm took in revenue of USD 143 billion during 2020.

IFC 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. As of 2019, IFC reported total assets of USD 94.3 billion.

The World Bank Group is a multilateral organization whose goal is “to end extreme poverty and promote shared prosperity in a sustainable way.” As of 2021, it has 189 member nations. The group encompasses: (1) IFC; (2) the International Bank for Reconstruction and Development and the International Development Association, which make up the World Bank; (3) the Multilateral Investment Guarantee Agency; and (4) the International Centre for Settlement of Investment Disputes. During the 12 months ending June 2020, the World Bank Group disbursed funds totaling USD 54 billion.

By Harriet Ritchie, Research Associate

Sources and Additional Resources

IFC press release
https://pressroom.ifc.org/all/pages/PressDetail.aspx

Microsoft homepage
https://www.microsoft.com

World Bank Group homepage
https://www.worldbank.org

IFC homepage
https://www.ifc.org

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