Istanbul, Turkey, October 19, 2015—IFC,
a member of the World Bank Group, helped its clients double the number
of loans provided to farmers in 2014, significantly expanding access to
finance and boosting productivity and access to new markets.
In 2013, IFC investees reached some
225,000 farmers. Last year the total was nearly 470,000 – a 110 percent
increase in just one year. The vast majority of farms in the ECA region
qualify as small and medium enterprises (SMEs), which are the primary engine
for job creation in developing countries, according to a 2011 World Bank
Policy Research Paper.
IFC clients that contributed to this
increase include Turkey’s DenizBank and Seker Bank, the Viktoria Group
in Serbia, and Agricover Credit in Romania.
IFC, a member of the World Bank Group,
is the largest global development institution focused on the private sector
in emerging markets. Working with more than 2,000 businesses worldwide,
we use our capital, expertise, and influence, to create opportunity where
it’s needed most. In FY15, our long-term investments in developing countries
rose to nearly $18 billion, helping the private sector play an essential
role in the global effort to end extreme poverty and boost shared prosperity.
For more information, visit www.ifc.org.