IFC, a member of the World Bank Group, is the largest development institution focused on the private sector in developing countries. They create opportunity for people to escape poverty and improve their lives — by providing financing to help businesses employ more people and provide essential services, mobilizing capital from others, and delivering advisory and risk-management services to ensure sustainable development.
IFC experience shows that banking on women entrepreneurs is a profitable business for banks as women entrepreneurs are usually an under served market, have excellent repayment rates and are good savers. Additionally, World Bank Group research shows that women contribute positively to their communities’ well-being.
In 2010, IFC launched its Banking on Women business, provides financing and expertise to an extensive network of financial institutions to help them acquire women-owned SME and retail customers—and profitably finance them. Through Banking on Women, IFC works with its extensive network of client financial institutions to increase access to finance for women entrepreneurs — especially those leading SMEs. This program is built on the fundamental business case that providing valuable financial services to women customers generates bottom line value for banks. Since its launch in 2010, IFC’s Banking on Women business has committed and mobilized 93 investments totaling more than $2.7 billion dedicated to women-owned enterprises and has advised on 50-plus projects in 32 countries. (Source: IFC Annual Report)
Find out more about Banking on Women here.
IFC was the first Development Finance Institution to sponsor the Financial Alliance for Women, providing financial and human resources to support the Alliance since 2005.
For more information about IFC, visit www.ifc.org.