IFC expects to invest US$150mn-200mn in microfinance sector in fiscal 2011

- Friday, March 11, 2011

IFC expects to invest US$150mn-200mn in microfinance sector in fiscal 2011

The IFC expects to invest US$150mn-200mn in the Latin American and Caribbean microfinance sector in its fiscal year 2011, IFC's head of microfinance, Martin Holtmann, told BNamericas.

IFC's investments consist of equity stakes and loans, and its fiscal years run from July 31-June 30.

In the previous fiscal year, IFC invested US$66mn in the regional microfinance sector, Holtmann said.

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Since IFC began investing in the sector, it has committed US$400mn in financing for microfinance institutions in Latin America and the Caribbean, he said.

IFC is currently involved in 38 microfinance projects in the region and, historically, has supported 62 such projects in Latin America and the Caribbean, said Holtmann.

The IFC is the private sector arm of the World Bank .