Tag: IFC

IFC Invests in Immersive Content Platform VUZ to Support Jobs and Incomes

Stuart Mitchell

In a move to strengthen jobs and incomes for young creatives, the International Finance Corporation (IFC), a member of the World Bank Group, is investing $5 million into VUZ as part of its $12M Pre-Series C. Launched by a Jordanian founder, VUZ is an immersive content platform that creates, distributes and monetizes premium creator-driven, entertainment, sports, and educational content in augmented reality, and virtual reality. The company has operations throughout the Middle East, parts of Africa, and Asia and currently reaches over 1.2 million active users globally each month, with…

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IFC and Partners Release New Harmonized Circular Economy Finance Guidelines

Stuart Mitchell

International Finance Corporation (IFC) released new Harmonized Circular Economy Finance Guidelines at the World Circular Economy Forum in Brazil. The guidelines are designed to assist investors, financial institutions, and private companies in identifying and quantifying opportunities to channel financing towards projects that support a circular economy. By providing clear guidance on eligible activities and qualifying transactions, the Guidelines aim to promote market convergence and are intended to be applicable globally. Most businesses underestimate the real potential of circular economy activities to boost profitability and secure financing. At the same time,…

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IFC and Banco Industrial expand financing for SMEs, with a focus on women-led businesses and the Legal Amazon

Stuart Mitchell

IFC, a member of the World Bank Group, and Banco Industrial do Brasil S.A. (BIB) have announced a $105 million financing package to expand access to finance for micro, small, and medium-sized enterprises (MSMEs) throughout Brazil. The investment will support women-led businesses in particular and help expand financial services in the Brazilian Legal Amazon region, contributing to promoting the country’s inclusive and sustainable economic growth. At minimum of 30% of the resources will be allocated to finance women-led small and medium-sized enterprises (SMEs), 10% will support SMEs operating in the…

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IFC and Santander Chile Launch First US$100 Million Loan for Green Building Projects

Stuart Mitchell

The International Finance Corporation (IFC), a member of the World Bank Group (WBG), has committed a US$100 million loan to Santander Chile to finance green building projects. This marks IFC’s first green loan in Chile dedicated exclusively to environmentally friendly buildings, and it is also the first loan of its kind granted to the Santander Group worldwide. The transaction includes a sustainability-linked incentive, which is contingent on Santander Chile meeting key performance indicators (KPIs) related to the development of green construction sub-projects aligned with the Excellence in Design for Greater…

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IFC Partners with CRX Markets to Advance Supply Chain Sustainability

Stuart Mitchell

To help improve the sustainability of global supply chains, the International Finance Corporation (IFC), a member of the World Bank Group, has announced a new partnership with CRX Markets, one of Europe’s largest working capital finance platforms. The partnership will draw on CRX Markets’ robust platform to broaden the reach of IFC’s $1 billion Global Trade Supplier Finance (GTSF) Program, which helps buyers extend affordable short-term working capital to their emerging market supplier networks. GTSF helps buyers spark positive change in their supply chains by offering financial discounts to suppliers…

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