News

World Bank's Women Entrepreneurs Finance Initiative (We-Fi) Launched with Ivanka Trump, Donors

Just three months ago, at the G20 leaders’ summit in Hamburg, Germany,the creation of We-Fi, an innovative new facility to advance women’s entrepreneurship and help women in developing countries increase their access to the finance, markets, technology, and networks necessary to start and grow a business, was announced.

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News

Opportunity Network And SME Finance Forum Announce Partnership
The partnership will accelerate the growth of small and medium businesses worldwide. IFC's SME Finance Forum and Opportunity Network (ON) have agreed to collaborate to help small businesses form B2B partnerships, grow their business and expand to new markets. The SME Finance Forum will invite its member banks catering to small businesses to join...
Member News: Ecobank Adds Cardless Cash Withdrawal
As the vanguard of financial inclusion, Ecobank is striving to address the needs of the unbanked by transforming a mobile phone into an all-in-one bank account and payment/cash withdrawal tool. One such example is the innovative Xpress Cash functionality, which has been introduced as part of its upgraded mobile banking app. Xpress Cash allows...
'Risky' SMEs Attracting Banks
From large banks to small ones, unique products are being developed to woo Small and Medium-sized Enterprises (SMEs). Though many banks are still uneasy to commit their money to SMEs, some progress is being made. With most banks having posted a drop in their net profits in six months to June 2017 and a dip interest income, they are cautiously...
Facebook's #SheMeansBusiness Launched in Vietnam
Facebook has launched #SheMeansBusiness in Vietnam. The initiative will run in partnership with the Vietnam Women Entrepreneur’s Council (VWEC) and the Vietnam Chamber of Commerce and Industry (VCCI), which supports women entrepreneurs through investment and technology development, training and capacity building. Through a series of workshops,...
Global Annual Price Tag for SME Manual Administration Tasks: $600 Billion
This study for Sage looks at the cost to small and mediumsized enterprises of administration tasks, including both operational and regulatory requirements. Analysing a survey of over 3000 companies across 11 countries, we consider whether technology can be used to reduce this burden, and how governments can encourage its take-up. The report...
IFC Assists LBDI with Access to Agribusiness and SME Finance
IFC will provide specialized advisory services to the Liberian Bank for Development and Investment (LBDI) to develop scalable and sustainable agrifinance and support SMEs banking operations. The services will strengthen the bank’s risk management processes and tools; improve its customer value propositions including systems and products; and build...
IFC Survey Says Cut in Bank Ties has Depressed Legitimate Growth
The IFC released a report on how correspondent banking relationships — bilateral agreements to handle basic services such as remittances or letters of credit — are having the effect of shutting out households and SMEs from the global financial system. In a new survey of more than 300 of its banking clients around the world, the IFC found that more...
EBRD Promotes Belarus Local Currency Lending and Corporate Governance
The EBRD and Belarus are joining forces to improve the domestic investment climate and corporate standards, with new initiatives in the area of local currency lending to small and medium-sized enterprises (SMEs) and the commercialisation and governance of state-owned enterprises. During a visit by EBRD President Sir Suma Chakrabarti to Belarus,...
ICC and WTO Launch ‘Small Business Champions’ Initiative and Open Call for Proposals
A joint effort to facilitate participation by smaller companies in international trade was launched by World Trade Organization (WTO) Director-General Roberto Azevêdo and International Chamber of Commerce (ICC) Secretary-General John Danilovich. The initiative, entitled 'ICC-WTO Small Business Champions', will provide a platform for companies and...
Survey Results: Rules to Curb Money Laundering
A recent IFC survey confirmed what many of financial institutions have been concerned about for the last few years: The network of Correspondent Banking Relationships (CBRs) is under tremendous pressure. To address multiple sets of new, sometimes conflicting, compliance requirements emerging market banks are spending large amounts to upgrade their...