KfW Entwicklungsbank and IFC launch cross-border fund to boost lending to microenterpreneurs in developing and transition countries. In Washington KfW Entwicklungsbank and the IFC signed a declaration of intent to establish a cross-border refinancing facility for microfinance institutions. The fund, designed by KfW Entwicklungsbank, acting on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), and the IFC, has a volume of USD 500 million and aims to support microfinance institutions (MFIs) by assuring their ability to lend to small and micro enterpreneurs, thus preserving and creating jobs at micro and small businesses.

Source: KFW Bankengruppe