Istanbul, Turkey, October 12, 2015—Loans
provided by IFC, a member of the World Bank Group, helped its client banks
extend financing to smaller businesses in Eastern Europe and Central Asia
by more than a third in 2014.
IFC investees provided more than 5.7
million loans to micro, small, and medium enterprises (MSMEs) last year,
4.39 million in 2013. These smaller businesses are the primary engine for
job creation in developing countries, according to a 2011 World Bank Policy
Also in 2014, the total dollar amount
of MSME loans provided by IFC investee banks increased about 12 percent.
Key contributors to this increase include Transilvania Bank in Romania,
Turkey’s Akbank and Seker Bank, Finka Kyrgyzstan and Kompanion, in the
Kyrgyz Republic, and TBC Bank in Georgia, among many others.
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.