The programme would help SMEs in India and Africa and mid-cap companies in Southeast Asia. However, the quantum of the fund has not been disclosed by the Corporation.
According to IFC, working through experienced fund managers with regional and corporate banking experience would help improve corporate governance and train women entrepreneurs to grow their companies and create more jobs.
Furthermore, IFC’s ‘Banking on Women’ programme supports access to finance and builds technical capacity for women through global and regional financial institutions. “Women entrepreneurs are changing the face of the global economy, helping to sustain job creation and economic growth. It is estimated that women-owned entities represent over 30 percent of registered businesses worldwide. Unfortunately, on average, only 5 to 10 percent of women-owned entities have access to commercial bank loans,” said IFC.
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