MICROCAPITAL BRIEF: International Finance Corporation (IFC) Planning Microfinance Policy Study Tour in Mongolia to Assist Policymakers in Eastern Europe and Central Asia
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced it will conduct a microfinance institution tour in Mongolia from October 12 through October 14, 2010, with policymakers from Azerbaijan, Bosnia and Herzegovina, Kazakhstan, Kyrgyz Republic and Tajikistan. The objective of the study tour is to introduce policymakers to best practices with the intention of enabling them to improve the legal framework for microfinance in their respective countries. The project is supported by the Ministry of Foreign Affairs of the Netherlands and will be led by the IFC’s Azerbaijan & Central Asia Microfinance Transformation Support Project, an IFC initiative which supports the transformation of microfinance credit organizations into banks.
Tour participants will analyze a successful transformation of a microfinance institution into a bank, best practices and innovations in the microfinance sector and meet with senior government officials of Mongolia.
By Jennifer Shevock, Research Associate
About International Finance Corporation:
A member of the World Bank Group, the International Finance Corporation (IFC) uses loan and debt securities, equity investments and guarantees with the intent of alleviating poverty. It invests in financial institutions and other companies in emerging markets as well as providing technical assistance. The IFC has 182 member countries that collectively determine its policies and approve investments. In fiscal year 2009, its new investments totaled USD 14.5 billion.
About the World Bank Group:
The World Bank Group consists of five associated institutions, all owned by member countries that carry ultimate decision-making power. The group’s mission is to fight poverty and improve living standards for people in the developing world. The World Bank Group includes the World Bank, which consists of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID). Established in 1944, the World Bank’s two development institutions, IBRD and IDA, provide leveraged loans to developing countries for capital programs.
Tour participants will analyze a successful transformation of a microfinance institution into a bank, best practices and innovations in the microfinance sector and meet with senior government officials of Mongolia.
By Jennifer Shevock, Research Associate
About International Finance Corporation:
A member of the World Bank Group, the International Finance Corporation (IFC) uses loan and debt securities, equity investments and guarantees with the intent of alleviating poverty. It invests in financial institutions and other companies in emerging markets as well as providing technical assistance. The IFC has 182 member countries that collectively determine its policies and approve investments. In fiscal year 2009, its new investments totaled USD 14.5 billion.
About the World Bank Group:
The World Bank Group consists of five associated institutions, all owned by member countries that carry ultimate decision-making power. The group’s mission is to fight poverty and improve living standards for people in the developing world. The World Bank Group includes the World Bank, which consists of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID). Established in 1944, the World Bank’s two development institutions, IBRD and IDA, provide leveraged loans to developing countries for capital programs.
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