IFC to Issue New Microfinance Bond

This fish vendor was able to acquire working capital through microloans. A new bond by the International Finance Corp. will help poor and low-income entrepreneurs gain access to financial services. Photo by: hodag / CC BY NC-ND hodagCC BY NC-ND

The International Finance Corp. is planning to issue a bond aimed at helping poor and low-income entrepreneurs in the developing world gain access to financial services.

The bond could be issued by the end of September and is expected to raise up to USD323 million. IFC would invest an amount that is at least equal to the bond’s proceeds in microfinance activities in developing countries, according to a news release from the organization.

The bond would be arranged by Daiwa Securities Capital Markets Co. Ltd. and distributed to Japanese investors by Daiwa Securities Co. Ltd.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.