IFC Loan Supports Financial Inclusion of Women-Owned MSEs in Romania
IFC, a member of the World Bank Group, is providing $16 million in financing to BT Mic to improve access to finance for micro and small enterprises (MSEs) and toward financial inclusion of women-owned small businesses in Romania.
The non-banking financial institutions are critical in addressing the scarcity of MSE funding, which is less than two percent of the GDP in Romania. IFC’s financing to BT Mic is designed to address the challenges that MSEs face in access to finance in Romania. Half of the IFC financing is earmarked for women-owned enterprises, seeking to empower them to play a larger role in the economy.