As of June 2008, the Corporation has committed to investing over $59 million of its own funds in mobile phone services, banking, microfinance, and a landmark hotel in Kabul.
To develop an operational and sustainable financial sector serving the financial needs of micro–and small-scale entrepreneurs in Afghanistan, IFC created the First Microfinance Bank of
Afghanistan in partnership with the Aga Khan Fund for Economic Development. IFC initially made an equity investment of $1 million in 2004, which was followed by a $3.3 million line of credit in 2006 and $1 million facility in fiscal year 2008. Over the past four years, IFC has also provided extensive advisory services to build the Bank's capacity.
In fiscal year 2007, IFC also committed $1 million to establish a Greenfield commercial bank, BRAC Afghanistan Bank. The initial commitment of $1 million was followed by another rights issue of nearly $0.4 million in fiscal year 2008.The Bank will focus on offering financial services to small enterprises in Kabul and other major cities.
