Postcards from the Hallways: MICROFINANCE

 
 

Microfinance

Rasan Puwaneswary lost everything in Sri Lanka’s three-decade conflict—even her home.

When peace returned in 2009, she faced an uncertain future, with no assets to use as collateral in obtaining financing.

Then she met IFC advisory client Lanka ORIX Micro Credit (LOMC). With our help, it had introduced group loans that did not require collateral. After forming a group with two other local women, she received $250—enough to start succeeding as a small-scale farmer. She soon repaid the first loan and qualified for another one.

Today LOMC is Sri Lanka’s largest microfinance institution. IFC has helped it scale up in the conflict-affected North and East districts, giving more than 170,000 clients the financing they need to increase opportunity, create jobs, and build a secure future.

Read more: ifc.org/southasia | #6DecadesOfExperience

IFC works with more than 800 financial institutions globally—providing investment and advisory support for microfinance, insurance, loans to small and medium enterprises, and low- and medium-income mortgages.

 

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