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IFC Invests in Asialink to Boost Small-Business Lending in the Philippines
In line with its goal to ramp up financial inclusion in the Philippines, the International Finance Corporation (IFC), the largest global development institution focused on the private sector in emerging markets and a member of the World Bank Group, announced last week it will provide up to $130 million in investment to Asialink Finance Corporation (AFC).
IFC’s investment will help AFC in expanding its financing for MSMEs, with at least 60 percent of loan proceeds earmarked for women-owned or led MSMEs (WMSMEs). Aside from financing, IFC will also help the company implement an Environmental and Social Management System framework and responsible finance principles in line with international best practices.
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Financial Inclusion Year in Review 2024
Reflecting on the highlights of 2024, we have compiled a list of notable contributions from the past year which showed thought leadership, explored innovative ideas and approaches, offered practical guidance, amplified underrepresented voices and engaged with the most pressing issues for the financial inclusion sector.
How Savings Groups Can Address Gender Inequality Through Dialogue
Unequal power dynamics and discriminatory social norms can stand in the way of women gaining full control of their financial resources. Engaging in four types of dialogue – from household to systems – can help shift these norms.
Connecting Venezuelan Migrants With the Financial System in Colombia
The Banca de las Oportunidades project, “El Parche Financiero” (“the Financial Patch”), aims to promote financial inclusion for the 100,000 Venezuelan migrants in the country.