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 is hitting the poorest and most vulnerable countries the hardest. Our response consists of four financing facilities. Here is a list of IFC COVID response projects.
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.
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.
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
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.