MICROCAPITAL BRIEF: IFC to Make Equity Investment of $1m in Microfinance Institution Advans Cote d'Ivoire

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, will invest USD 1 million in Advans Cote d'Ivoire, a member of the Advans SA group of microfinance institutions (MFIs). The equity investment will be used to finance the growth of Advans Cote d'Ivoire's portfolio of loans to micro-, small and medium-sized enterprises (MSMEs). IFC has previously supported other MFIs in the Advans SA group in Cameroon, Democratic Republic of the Congo (DRC) and Ghana. As of July 2011, Advans Cote d'Ivoire does not report to the US-based nonprofit Microfinance Information Exchange (MIX). The Advans SA group of MFIs reports an aggregate outstanding loan portfolio of approximately.... Continue reading here. Contact MicroCapital to receive a complete sample issue of the MicroCapital Monitor, the monthly microfinance newspaper.