Digital Transformation and Connectivity

Dedebala Nuriyev, a vendor at a grocery market in Baku. Photo: Sultan Danyalov/ IFC. 

IFC invests in the telecommunications, media, and technology sector in emerging markets, building critical infrastructure, financing companies, and helping close the digital divide. We focus on supporting mobile network operators in challenging and less-developed markets where a lack of connectivity hinders development. We also finance digital infrastructure—including broadband networks, telecommunications towers, and data centers—that are critical enablers of the digital economy. IFC also supports the digital transformation of financial institutions and works with companies in the region that focus on technology-driven innovation in financial services.

Examples of What We Do:

• IFC’s DigiLab Finance initiative helps financial institutions in the region scale up their digital transformation strategies.
• In the Western Balkans, IFC supported the creation of a digital platform that will help local manufacturers incorporate themselves into global supply chains, helping them to grow and create jobs.
• In Romania, IFC invested in FintechOS, which helps banks and insurance companies globally expand their digital offerings, allowing them to reach underserved populations at scale. 
• In Ukraine, IFC is working with the Ukrainian Association of FinTech and Innovation Companies to improve access to digital financial services for households and small businesses, promoting financial inclusion in the country.
• We have also invested in Estonia-based Bolt, a ride hailing and e-scooter company, to improve urban mobility in Eastern Europe.
• In Azerbaijan, we helped ramp up digital payments for future resilience.