Tag: IFC

IFC Increases COVID-19 Support to $8 Billion to Sustain Private Sector Companies and Livelihoods in Developing Countries

Stuart Mitchell

The World Bank and IFC’s Boards of Directors have approved an increased $14 billion package of fast-track financing to assist companies and countries in their efforts to prevent, detect and respond to the rapid spread of COVID-19. The package will strengthen national systems for public health preparedness, including for disease containment, diagnosis, treatment, and support for the private sector. IFC, a member of the World Bank Group, will increase its COVID-19 related financing availability to $8 billion as part of the $14 billion package, up from an earlier $6 billion,…

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IFC, Stock Exchanges Partner for 6th Annual Ring the Bell Events for Gender Equality

Stuart Mitchell

IFC, a member of the World Bank Group, is partnering with more than 80 stock exchanges in the global Ring the Bell for Gender Equality initiative to celebrate International Women’s Day 2020. This annual event encourages the private sector to expand opportunities for women as leaders, employees, entrepreneurs, and consumers to promote sustainable development. Closing socio-economic gaps between men and women helps drive business and economic growth and improves the lives of families and communities. Strengthening gender equality increases resiliency to violence and conflict. “Women are fundamental to inclusive growth…

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IFC Supports Sustainable Agriculture in Morocco’s Farming Sector through its Partnership with Zalar Agri

Stuart Mitchell

IFC, a member of the World Bank Group, is providing $24 million in financing, including a US$12 million C loan for IFC’s own account and a mobilization of a US$12 million B loan through IFC’s syndication program, to Zalar Agri, one of Morocco’s leading fruit producers, as part of an effort to create jobs and spur export-led economic growth in rural Morocco. The financing, announced today, will help the company expand its fruit and nut growing operations, creating both permanent and seasonal jobs in Morocco’s countryside. This impact is considered…

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IFC Supports Vietnam Prosperity Bank to Boost Climate Financing, Reduce Greenhouse Gas Emissions

Stuart Mitchell

IFC, a member of the World Bank Group, is providing a financing package of $212.5 million to Vietnam Prosperity Joint Stock Commercial Bank. The funding will help VPBank expand its lending to small and medium enterprises (SMEs) and boost financing especially for climate-friendly projects. Concerning greenhouse-gas emissions, Vietnam’s is one of the most carbon intensive countries in the world, ranking only after China and Mongolia in the East Asia and Pacific region. While reducing greenhouse-gas emissions has been a national target to mitigate climate change impact, it presents a $753…

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IFC and Santander Sign a $300 million Facility to Boost Climate Loans and Support Small and Medium Enterprises in Chile

Stuart Mitchell

Santander and IFC, a member of the World Bank Group, have signed a $300 million unfunded risk-sharing facility to support the increase of access to climate finance and the growth of small and medium enterprises (SMEs) in Chile. The facility will contribute to the sustainable economic growth of the Chilean economy by helping develop a climate financing market and create employment. This facility will enable Santander to promote the origination of mainly climate-related loans, helping Chile meet its nationally determined contributions (NDCs) under the Paris climate agreement. In addition, this…

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