allAfrica.com: Africa: IFC Microfinance Program Expands (Page 1 of 1).
International Finance Corporation (Washington, DC)
PRESS RELEASE 5 June 2008 Posted to the web 5 June 2008 Cape Town
IFC, a member of the World Bank Group, today announced that it will help launch Advans Banque Congo, a new microfinance institution in the Democratic Republic of Congo. The transaction is the latest in IFC's microfinance strategy for Africa, under which IFC plans to support loans to more than 400,000 small entrepreneurs in Africa's poorest regions in the next five years.
"Microfinance institutions provide valuable support to entrepreneurs and small businesses in developing countries. They also play a key role in improving financial infrastructure," said Claude Falgon, Manager of Advans. "Working with IFC will enable uus to reach underserved people, helping create jobs and reduce poverty."
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