by Arin Atluri -

MICROCAPITAL BRIEF: IFC Approves $250m Loan to HDFC for Housing Finance for Low-, Middle-income Borrowers in India; 25% Earmarked for Green Buildings


The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently approved a loan of USD 250 million to Housing Development Finance Corporation Limited (HDFC), a housing lender based in India. Whereas green housing has “largely been regarded as a luxury market in the country,” one quarter of the loan amount is reserved for

by Harriet Ritchie -

MICROCAPITAL BRIEF: CGAP, GOGLA, IFC’s Lighting Global Launch PAYGo PERFORM Standards, Seeking to Boost Investment in Off-grid Solar

Two NGOs, US-based CGAP (Consultative Group to Assist the Poor) and the Netherlands-based Global Off-Grid Lighting Association (GOGLA), along with the Lighting Global program of the World Bank Group’s International Finance Corporation (IFC) recently launched a framework for measuring the outcomes of selling off-grid solar products on a pay-as-you-go (PAYGo) basis. The PAYGo Performance, Reporting and Measurement (PAYGo PERFORM) plan “offers the PAYGo solar industry a standardized and transparent set of key performance indicators (KPIs)…

by Teo Lin-Bianco -

MICROCAPITAL BRIEF: Tanzania Mortgage Refinance Company (TMRC) Sells $3.8m in Bonds to Boost Access to Home Ownership

The Tanzania Mortgage Refinance Company (TMRC), an institution that refinances the portfolios of housing lenders, recently completed an issue of corporate bonds on the Dar es Salaam Stock Exchange. The bond listing had a target of

by Teo Lin-Bianco -

MICROFINANCE EVENT: Impact Investing World Forum; September 23-24, 2021; London, UK, with Virtual Option

The Impact Investing World Forum (IIWF) is focused on investments that are in line with concerns such as environmental, social and governance (ESG) criteria and the UN Sustainable Development Goals. The event will feature speakers from

by Harriet Ritchie -

MICROCAPITAL BRIEF: IFC Approves $20m Loan to Agrofértil of Paraguay to Support Farming, Gender Equality Amid COVID-19 Downturn

The International Finance Corporation (IFC), a member of the World Bank Group, recently agreed to loan up to USD 20 million in working capital to Agrofértil, a company that provides credit, crop insurance, agricultural inputs and “agronomic services” to farmers and farmer cooperatives in Paraguay. Through the loan, which may be renewed yearly for five years, IFC aims to support Agrofértil in its work with farmers cultivating small and medium-sized plots including by endeavoring to “promote

by Teo Lin-Bianco -

MICROCAPITAL BRIEF: IFC Places $18m in Equity in BlackPeak Capital to Support SME Growth in Southeast Europe

The International Finance Corporation (IFC), a member of the World Bank Group, recently issued an equity investment of EUR 15 million (USD 18 million) to BlackPeak Southeast Europe Growth Equity Fund (BlackPeak Fund I), which is

by Teo Lin-Bianco -

MICROCAPITAL BRIEF: IFC Commits $1b to MSMEs in Africa Recovering from Pandemic Recession via Risk Sharing, Mezzanine Financing

The International Finance Corporation, a member of the World Bank Group, recently committed USD 1 billion to finance micro-, small and medium-sized enterprises (MSMEs) through risk sharing and mezzanine financing in collaboration with public and private financial institutions. The loan will target MSMEs in sectors considered more likely to create jobs, given the

by Bradley Shulman -

MICROCAPITAL BRIEF: Ascent Rift Valley Fund II Raises $100m from Public, Private Investors for SMEs in East Africa

Kenya-based private equity firm Ascent Capital Africa recently secured USD 100 million at the first rolling close of its Ascent Rift Valley Fund II (ARVF II), surpassing the firm’s initial goal of USD 80 million. The funds will be invested in small and medium-sized enterprises (SMEs) in East Africa, targeting

by Sophie Fiala -

MICROCAPITAL BRIEF: Government of Madagascar, IFC, Local Insurers Partner on Agricultural Insurance, Seeking to Lower Risk of Lending to Farmers

The International Finance Corporation (IFC), a member of the World Bank Group, recently announced a partnership with the government of Madagascar to boost farmers’ access to insurance that protects their crops from climate-related disasters. The project will engage Malagasy insurance companies to create

by Bradley Shulman -

MICROCAPITAL BRIEF: IFC Invests $24m in Evolving Europe Principal Investments Fund (EEPIF) to Boost SME Finance

The International Finance Corporation (IFC), a member of the World Bank Group, recently invested EUR 20 million (USD 24.2 million) in the Evolving Europe Principal Investments Fund (EEPIF), which is managed by UK-based private equity firm Integral Venture Partners, with the goal of improving the financial inclusion of small and medium-sized enterprises (SMEs) in 14 countries. Among the countries to receive investment are

by Tejas Gumudavelly -

MICROCAPITAL BRIEF: Central Bank of Sri Lanka Launches National Finance Inclusion Strategy

The Central Bank of Sri Lanka (CBSL), with assistance from the World Bank Group’s International Finance Corporation (IFC), recently launched a National Finance Inclusion Strategy (NFIS). The strategy has four primary goals: “increase access to digital finance and payments, boost access to finance for MSMEs [micro-, small and medium-sized enterprises], protect financial consumers, and

by Harriet Ritchie -

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 train

by Kate Finster -

MICROCAPITAL BRIEF: Tonga Development Bank Launches ‘Ave Pa’anga Pau Digital Remittance Product via Regional Australia Bank

The International Finance Corporation (IFC), a member of the World Bank Group; the Tonga Development Bank (TDB), which is subsidized by the government of New Zealand; and the member-owned Regional Australia Bank recently released ‘Ave Pa’anga Pau, a product allowing Tongans residing in Australia to send remittances to individuals in their home country using their mobile phones. Recipients may direct their funds to a TDB bank account

by Nathan Kiplagat -

MICROCAPITAL BRIEF: Eco-Business Fund, IFC to Loan $40m to Banco Agromercantil (BAM) to Help MSMEs in Guatemala Manage COVID-19 Pandemic

The International Finance Corporation (IFC), a member of the World Bank Group, recently agreed to lend Banco Agromercantil (BAM), a subsidiary of Colombia-based Grupo Bancolombia, USD 20 million, thus mobilizing an equal amount from the Eco-Business Fund, which is domiciled in Luxembourg. BAM is to use the liquidity to support

by Nathan Kiplagat -

MICROCAPITAL BRIEF: Isbank Georgia, IFC Agree on Cross-currency Interest Swaps, $10m Loan for SMEs

Isbank Georgia, a subsidiary of Turkey-based bank Türkiye Is Bankasl, recently agreed to borrow USD 10 million from IFC, a member of the World Bank Group. Isbank is to use the funds to on-lend primarily to

by Daron Weber -

MICROCAPITAL BRIEF: IFC Loans $50m to Diamond Trust Bank Kenya to Support SMEs Challenged by COVID-19

To support small and medium-sized enterprises (SMEs) that are struggling during the COVID-19 pandemic, the International Finance Corporation (IFC), the private-investment arm of the World Bank Group, recently issued a loan of USD 50 million to Nairobi-based Diamond Trust Bank Kenya Limited (DTB Kenya). The targeted sectors include