October 27, 2009—IFC will issue a bond to increase access to finance for poor and low-income entrepreneurs in developing countries. The bond will raise up to $300 million equivalent, a comparable amount to IFC's annual microfinance program in recent years.
The microfinance bond, IFC's first, will be denominated in Australian dollars and sales open to Japanese retail and institutional investors. This will be arranged by Daiwa Securities Group.
IFC will direct an amount equal to the net proceeds of the bond to financial institutions that provide loans to microentrepreneurs in developing countries.
"Through this bond, IFC can extend the impact of its own activities in microfinance while providing a platform for Japanese investors to create opportunities where they are needed most," said Lars Thunell, IFC Executive Vice President and CEO.
Read the related press release...
For more information contact:
Alexandra Klopfer
Phone: (202) 473-4645
E-mail: aklopfer@ifc.org
