FINCA Malawi Receives Initial Disbursement of a $1.5 Million Loan Facility From the Belgian Investment Company for Developing Countries
Through a network of 23 branches and 63 active agents across the country, FINCA Malawi serves more than 70,000 clients offering individual and group loans, savings and insurance products specifically designed for low-income entrepreneurs.
This loan to Daycoval is being granted as part of IFC’s global response to combat the economic impacts of the COVID-19 pandemic.
IFC has partnered with six global insurance companies to mobilize $2 billion in credit capacity under the Managed Co-Lending Portfolio Program (MCPP).
The bond is the first Green Bond issued via Symbiotics’ sponsored bond issuance platform under its Sustainability, Social and Green Bond Framework which was certified in December 2019 by DNV GL.
The joint collaboration aims to create markets, mobilize private sector investment, and support economic recovery in developing countries in the wake of the COVID-19 global crisis.
IFC, a member of the World Bank Group, provided Banco General, S.A., a loan of $150 million for mortgage lending for low and middle-income families in Panama, at the end of 2019.
The loan will support the development of financial technology and inclusion in Indonesia and will will provide budget support for Indonesia’s reform agenda in three key policy areas.
VisionFund plans to bring financial services to the refugees at scale and will open three more branches in 2020 with the second branch planned in Yumbe district to serve both Yumbe town as well as the Bidibidi settlement, one of the largest refugee settlements in the world.