To make loans more accessible and affordable for small and medium enterprises (SMEs), IFC has set up a risk-sharing facility with FirstRand Bank Limited that will cover half of the credit risk for a portfolio of up to ZAR1.8 billion ($99 million equivalent) of loans to these businesses in South Africa.

This partnership will focus on enhancing Absa’s Women in Business (WIB) proposition by leveraging on Women’s World Banking’s international expertise in women-focused financial inclusion to provide innovative financial and non-financial solutions tailored to the needs of female entrepreneurs.

The investment will support women-led businesses in particular and help expand financial services in the Brazilian Legal Amazon region, contributing to promoting the country's inclusive and sustainable economic growth.

The fund will provide financing in partnership with African banks to support up to 20 SMEs that face stress with their existing loan options.

This session will spotlight the Product Innovation of the Year category — highlighting its unique criteria, value to financial service providers, and global significance.

Albanian MFI Fed Invest and Montenegrin MFI Alter Modus d.o.o, will each receive an $11 million loan, while Spanish MFI Nuevo MicroBank will receive a $110 million loan.

Under the partnership, IFC will loan First Bank up to $60 million equivalent in euros, including $20 million from IFC’s own account and $40 million mobilized from other lenders  to increase access to finance for thousands of smaller businesses in Cameroon.

Villgro has announced that the innovative financing solutions powered by Villgro and its partner organizations have, to date, enabled 106 women micro entrepreneurs across India to take business loans.

With a $10 million, three-year debt facility, Banco Ficohsa Nicaragua will provide accessible loans to small and medium-sized enterprises (SMEs), with a dedicated focus on women entrepreneurs. 

Inclusive Action Hub is looking to award enterprises in low- or middle-income countries with fewer than 250 employees, actively driving gender inclusion.