Tag: IFC

IFC, BNP Paribas Launch Landmark SRT Transaction to Support Trade Finance in Emerging Markets

Stuart Mitchell

IFC, a member of the World Bank Group, and BNP Paribas (BNPP), the European Union’s largest bank as measured by assets and a key player in international banking, today announced a landmark Synthetic Significant Risk Transfer (Synthetic SRT) transaction, which will enable BNPP to expand its trade finance activities and continue to support emerging market economies. The transaction is expected to be particularly impactful, as international trade finance flows have been adversely impacted by ongoing global economic uncertainty. BNPP is a strategic user of SRTs across a variety of asset…

Read More

IFC and ALD Partner to Scale Green Vehicle Fleets in Emerging Markets

Stuart Mitchell

IFC and ALD, a leading global vehicle leasing company and a subsidiary of Societe Generale, has announced a partnership to reduce carbon emissions in transport by accelerating the adoption and penetration of green vehicles in emerging markets. The US$400 million IFC investment will help ALD grow its green fleet, a combination of hybrid, plug-in hybrid and battery electric vehicles, in seven countries –Türkiye, Mexico, India, Serbia, Romania, Bulgaria, and Croatia. The financing, which was intermediated by Societe Generale on behalf of ALD, is expected to add 15,000 green vehicles with…

Read More

IFC Recognizes Emerging Market Financial Institutions for Climate Reporting

Stuart Mitchell

IFC has delivered this year’s Climate Assessment for Financial Institutions (CAFI) Awards for Climate Reporting, recognizing financial institutions lending in emerging markets that use the CAFI tool to assess the climate eligibility and measure the climate impact of their investments. The CAFI Awards acknowledge IFC financial sector clients’ investments going into climate activities and the responsibility shown to report on their climate commitments. This recognition is based on climate finance transactions recorded in the CAFI tool and deemed eligible by IFC.  To date, IFC clients have used CAFI to report…

Read More

IFC and UNHCR initiative to boost private sector engagement for refugees and their host communities

Stuart Mitchell

The International Finance Corporation (IFC) and UNHCR, the UN Refugee Agency, today announced a joint initiative to create inclusive economic opportunities that will benefit refugees and their host communities. Among other goals, the initiative aims to mobilize private sector projects over the next five years to demonstrate the viability of investments in forced displacement contexts. Forced displacement is a growing crisis that is too large and complex for governments and humanitarian agencies to solve alone. By mid-2022, over 103 million people were forcibly displaced worldwide, with 74 per cent of…

Read More

IFC Launches New Platform to Bolster Venture Capital Ecosystems in Africa, Middle East, Central Asia, and Pakistan

Stuart Mitchell

To help build the digital economy in Africa, Middle East, Central Asia, and Pakistan, IFC has launched a new $225 million platform to strengthen venture capital ecosystems and invest in early-stage companies addressing development challenges through technological innovations in climate, health care, education, agriculture, e-commerce, and other sectors. In 2021, these regions collectively received less than 2% of $643 billion of global venture capital funding. Access to capital has been exacerbated by a slowdown in global venture capital investment, the COVID-19 pandemic, the rise in food and supply chain costs,…

Read More