IFC Initiative to Help Financial Institutions Support Small Businesses Disrupted by Pandemic

IFC, a member of the World Bank Group, today launched an initiative to help financial services providers deliver funding to small businesses, informal enterprises, and low-income households that have been hit the hardest by the lockdowns and economic slowdown caused by the COVID-19 pandemic.

The new Base of the Pyramid Program will provide up to $400 million to microfinance institutions, non-bank financial institutions, and banks that are focused on micro, small, and medium enterprises (MSMEs). The program will be available to new and existing IFC clients.