News

Development Bank of Nigeria Joins 140 Other Financial Institutions to Promote SME Finance

Washington, D.C. October 16, 2018The Development Bank of Nigeria (DBN) became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.  

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IFC and Top Tech Firms Drive Economic Opportunities for Women
Under the new initiative, ‘Digital2Equal’ led by IFC, a sister organization of the World Bank and member of the World Bank Group, seventeen leading tech companies have joined together to support this initiative focused on increasing opportunities for women. The companies participating include: Airbnb, Inc., Google LLC, LinkedIn, Didi Chuxing...
Member News: OPIC Partners with IDB to Launch Gender-Focused Fund
SME Finance Forum member, Overseas Private Investment Corporation (OPIC) has collaborated with the and Inter-American Development Bank (IDB) Group to launch the first gender-focused fund for Latin America and the Caribbean. The investment, ‘Fund Mujer’ is for up to $200 million and will be made up of 30 percent debt and 70 percent equity,...
Member News: CEO of Standard Chartered Bank Shares His Plans for the Region and Strategic Partnerships Opportunities
In an interview with Bloomberg BusinessWeek, regional CEO of Africa and the Middle East for Standard Chartered Bank, Sunil Kaushal shared his plans and partnerships with India and UAE. Kaushal shared,“Mmy vision is to build up a business which delivers a solid result and generates the right returns for all our stakeholders – but on a sustainable...
Member News: OPIC Approves Close to $900 Million To Expand Access to Financial Services to Africa, Asia and Latin America
SME Finance Forum member, the Overseas Private Investment Corporation (OPIC) approved approximately $895 million in financing and political risk insurance that will benefit Africa, Asia and Latin America in energy, healthcare, housing and financial services, according to a release by OPIC. The funds will contribute to the following OPIC...
Itaú Unibanco Has Partnered With IFC To Provide Support for Women Entrepreneurs Through an Online Portal Program
Itaú Unibanco will provide a online course entitled, “Plano de crescimento: como transformar negócios em sucesso,” (Growth plan: how to turn business into success) to support women entrepreneurs. In partnership with the IFC and EDUK, a widely known learning platform in Brazil, Itaú Unibanco will develop and provide the course for free, according...
India Moves Toward Universal Financial Inclusion
According to the Global Findex, India has improved financial inclusion; it’s reported that 80 percent of adults in 2017, have bank accounts and women owning accounts have increased by 30 percent. The Findex and the 2018 Financial Inclusion Insights (FII), show the Jan Dhan Yojana scheme (PMJDY) has contributed to helping the unbanked reach account...
Tunisia’s Equal Inheritance Law Could Boost Female Entrepreneurship
A law was proposed by Tunisia’s President, Beji Caid Essebsi, that equal inheritance be available for men and women. Tunisia would be the first country in the Arab world, according to the article to implement equal inheritance, which would result in financial inclusion for Tunisia women. Right now, “The inheritance law is a significant barrier for...
The Mastercard Center for Inclusive Growth is using technology to help entrepreneurs grow their business. Micro-entrepreneurs are excluded from the traditional financial system due to their cash-based transaction system and are unable to build trust among financial institutions. According to the article, “As of 2017, 70 percent of women-owned...
Member News: EIB signs €375 Million Financing Agreement to Support SMEs
SME Finance Forum member, the European Investment Bank (EIB) signed a financing agreement worth €375 million with the National Bank of Egypt to fund SME investments. According to a release by EIB, the agreement is in line with the Economic Resilience Initiative, which promotes financial inclusion and the creation of sustainable employment...
EU Funding Expansion of EBRD Women in Business Programme to Morocco
The European Bank for Reconstruction and Development (EBRD) is extending its reach, offering women-led SMEs in Morocco financial literacy, marketing, leadership skills and e-commerce through their Women in Business Programme. According to the article, the program funded by the EU Initiative for Financial Inclusion has a goal to impact 200,000...