Tag: IFC

World Bank Group Launches Initiative to Help Local Financial Institutions Expand Digital Payments in Emerging Markets

Stuart Mitchell

The International Finance Corporation (IFC), a member of the World Bank Group focused on the private sector, has launched a risk-sharing initiative to help banks, fintechs, and other financial institutions in emerging markets expand access to digital payments for consumers and small businesses. In some of these markets, financial institutions are constrained by financial requirements that can limit their ability to participate in global payment ecosystems, leaving millions of people and local merchants reliant on cash and cut off from the convenience, safety, and efficiency digital payments can provide. The…

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IFC partners with Sify to support expansion of data centers and strengthen digital economy through sustainability linked loan

Stuart Mitchell

IFC has announced a partnership with Sify Infinit Spaces Limited (SISL), a wholly owned subsidiary of Sify Technologies Limited, to promote the development of AI ready, energy-efficient data center infrastructure in India. The sustainability-linked investment will support SISL, a leading Indian data center operator, in developing two next-generation data centers in Navi Mumbai and Chennai with a combined capacity of 103 MW specifically built for AI ready workloads while bringing in jobs to add a multiplier effect to the local economy. Designed in line with Indian Green Building Council (IGBC)…

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IFC, EIB Group and European Commission back Biovac to build Africa’s first end-to-end multi-vaccine manufacturing site, advancing vaccine self-reliance

Stuart Mitchell

Biovac, a leading African vaccine manufacturer, has secured a major financing package from the International Finance Corporation (IFC), the EIB Group, and the European Commission to build Africa’s first end-to-end multi-vaccine manufacturing facility. The project will increase access to life-saving vaccines, strengthen the continent’s capacity to prepare for future pandemics, and advance Africa’s long-term health resilience. The project will expand Africa’s vaccine manufacturing capacity, support equitable access to essential immunisations, and strengthen preparedness for future pandemics.  The investment is enabled by a financing package led by IFC as the mandated…

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IFC Partners with CBL Group to Accelerate Global Expansion

Stuart Mitchell

To strengthen a leading Sri Lankan manufacturer’s global presence, the International Finance Corporation (IFC), a member of the World Bank Group, committed $28.6 million, as part of a larger envelope of $40 million, to CBL Group. IFC’s investment will enable CBL, one of Sri Lanka’s largest food manufacturing conglomerates, to extend its global footprint across Asia and Africa. The financing supported the acquisition of PT Tri Jaya Tangguh Indonesia (TJT), a large-scale coconut processing facility in Indonesia, and will support the expansion of CBL’s existing biscuit manufacturing facility in Ghana.…

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IFC and Carbonwave Turn a Growing Climate Threat into Sustainable Economic Opportunity

Stuart Mitchell

With the goal of supporting an innovative circular economy solution that transforms a growing climate and environmental threat into a job‑creating industry with high economic and environmental value, the International Finance Corporation (IFC), a member of the World Bank Group, has announced the successful closing of an investment in Carbonwave, the first company to transform sargassum  into commercially viable agricultural biostimulants and cosmetic emulsifiers. Sargassum, a seaweed that once grew in an isolated part of the Atlantic Ocean, has started to bloom out of control and overwhelm beach ecosystems across…

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