IFC announced a $77 million senior loan facility to PT. Indosurya Inti Finance (Indosurya), a local multifinance company. The IFC-led financing package aims to bolster the country’s small and medium enterprises (SMEs), which serves as the engine of job creation and economic growth.
Incofin Investment Management, a Belgian fund management company, and the Netherlands Development Finance Company (FMO), a public-private development bank founded in 1970, recently signed the fourth capacity development agreement stemming from their partnership that was launched in 2008 to strengthen a total of 14 microfinance institutions (MFIs) worldwide.
IFC announced a $40 million senior loan facility to PT Radana Bhaskara Finance Tbk (Radana). The IFC-led financing package aims to develop the country’s micro, small and medium enterprises (MSMEs), and increase financing for women-owned MSMEs.
Amazon says that small businesses and entrepreneurs had a record-breaking season with more than one billion items ordered worldwide. Over just five days, from Thanksgiving through Cyber Monday, nearly 140 million items were ordered from small businesses and entrepreneurs. Reports say that a big driver of this trend is Fulfillment by Amazon, the program that lets small businesses offer Prime two-day shipping by preshipping their items to Amazon fulfillment centers, and letting the company handle packaging, shipping and customer service.
The EBRD is providing Banque de Tunisie with a financing package that consists of a €50 million loan for on-lending to small and medium-sized enterprises (SMEs) and a US$ 20 million trade finance line that is expected to be signed shortly.
The SME market segment accounts for more than 90 per cent of all businesses in Tunisia. It is therefore a vital engine to provide jobs, build a modern diverse economy and to boost long-term, sustainable growth.
Mastercard jointly announced with Governor Andrew Cuomo that it will add to its New York state operations with the expansion of its New York City Technology Hub. The company will relocate its current tech hub operations to a new Flatiron location at 150 Fifth Avenue and nearly triple its work force through the creation of over 470 new jobs by 2024. The Mastercard technology hub, located in the Flatiron district, is home to members of the company's digital product, operations technology, Masterpass, and research & development teams.
Japan has pledged US$50 million (S$67.9 million) to a global initiative that promotes female entrepreneurship, Prime Minister Shinzo Abe said on Friday, Nov 3 to an audience that included Ivanka Trump, senior advisor to U.S. President Donald Trump.
This will make the country the largest financial contributor in the Women's Entrepreneur Finance Initiative, a public-private loan programme by the World Bank that was championed by Ms Trump and launched at this year's Group of 20 (G-20) summit.
Berlin, 3 November, 2017 -- IFC, a member of the World Bank Group, pays special attention to small businesses because they are the engines of job creation and economic growth. Nine out of ten new jobs worldwide are created by small businesses, and we need nearly 3,3 million jobs every month in emerging markets by 2030 to absorb the growing workforce. Lack of access to finance is one of the biggest hurdles small businesses face that prevent them from growing and creating jobs.
Just three months ago, at the G20 leaders’ summit in Hamburg, Germany,the creation of We-Fi, an innovative new facility to advance women’s entrepreneurship and help women in developing countries increase their access to the finance, markets, technology, and networks necessary to start and grow a business, was announced. We-Fi aims to leverage donor funding to unlock more than $1 billion in International Financial Institution (IFI) and commercial financing by working with financial intermediaries, funds and other market actors.
The partnership will accelerate the growth of small and medium businesses worldwide.
IFC's SME Finance Forum and Opportunity Network (ON) have agreed to collaborate to help small businesses form B2B partnerships, grow their business and expand to new markets.
