IFC and COVID-19 (Coronavirus)
IFC is providing $8 billion in fast-track financial support to existing clients to help sustain economies and preserve jobs during this global crisis, which will likely hit the poorest and most vulnerable countries the hardest. Our response consists of four financing facilities. Here is a list of IFC COVID response projects.
Financing Facilities
Supporting Critical Industries
The Real Sector Crisis Response Facility will provide $2 billion to support existing clients in the infrastructure, manufacturing, agriculture and services industries vulnerable to the pandemic. IFC will offer loans to companies in need, and if necessary, make equity investments. This instrument will also help companies in the healthcare sector that are seeing an increase in demand.
Keeping Trade
Flowing
The Global Trade Finance Program will provide $2 billion to cover the payment risks of financial institutions so they can provide trade financing to companies that import and export goods. IFC expects this will support small and medium-sized enterprises involved in global supply chains.
Helping Clients
Pay Their Bills
The Working Capital Solutions Program will provide $2 billion in funding to emerging-market banks to extend credit to help businesses shore up their working capital, the pool of funds that firms use to pay their bills and employees’ salaries.
Shoring Up Local
Banks
The Global Trade Liquidity Program, and the Critical Commodities Finance Program, will together provide $2 billion in funding and risk-sharing support to local banks so they can continue to finance companies in emerging markets.
Media
Jul 29, 2020
World Bank's IFC to launch $4 bln medical supply financing platform
May 12, 2020
Social bonds: Japan leads from the front
Apr 24, 2020
CGD Conversations on COVID-19 and Development: Philippe Le Houérou
Apr 3, 2020
World Bank’s Private Arm Seeks to Prevent Wave of Bankruptcies
Mar 31, 2020
How the World Bank Group is helping developing countries respond to COVID-19
Blogs & Op-Eds
Jul 27, 2020
4 key trends on how COVID has impacted women in business
Jun 22, 2020
Agility amid fragility: How IFC’s clients in MENA are adapting to the new COVID-19 normal
May 26, 2020
Blog: After COVID-19, Back to Business Should Mean Inclusive Business
May 13, 2020
Blog: Don’t Let The COVID Era Widen The Digital Divide In Developing Countries
May 12, 2020
How COVID-19 is driving a long-overdue revolution in education
Announcements
July 29, 2020
IFC To Provide $4 Billion To Boost Healthcare Supplies to Developing Countries Amid COVID-19
July 1, 2020
Joint Statement by heads of multilateral development banks and the WTO on supporting trade finance during the COVID-19 crisis
May 20, 2020
IFC Finances Garanti BBVA to support Turkish MSMEs amid the COVID-19 Pandemic
May 19, 2020
World Bank Group: 100 Countries Get Support in Response to COVID-19 (Coronavirus)
May 15, 2020
Scaling up cooperation among Development Finance Institutions (DFIs) in response to COVID-19
March 17, 2020
IFC Increases COVID-19 Support to $8 Billion to Sustain Private Sector Companies and Livelihoods in Developing Countries
March 3, 2020
World Bank Group Announces Up to $12 Billion Immediate Support for COVID-19 Country Response
February 21, 2020
IFC Increases Trade Finance Limits to Support Vietnamese Businesses Amid COVID-19
