Financing Micro, Small, and Medium Enterprises : An Independent Evaluation of IFC's Experience with Financial Intermediaries in Frontier Countries
Since the mid-1990s, the International Finance Corporation (IFC) has designed a number of strategies for supporting micro, small, and medium-size enterprises (MSMEs). The IFC strategy in place since 2001 focuses on: (i) providing financial support...
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| Format: | Publication |
| Language: | English en_US |
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Washington, DC : World Bank
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2008/01/9718593/financing-micro-small-medium-enterprises-independent-evaluation-ifcs-experience-financial-intermediaries-frontier-countries http://hdl.handle.net/10986/6485 |
| Summary: | Since the mid-1990s, the International
Finance Corporation (IFC) has designed a number of
strategies for supporting micro, small, and medium-size
enterprises (MSMEs). The IFC strategy in place since 2001
focuses on: (i) providing financial support to MSMEs through
financial intermediaries; and (ii) providing non-financial,
indirect, institution-building support to MSMEs through
project-development facilities co-financed by donors. In
addition, IFC's corporate strategies focus on
supporting private sector development in frontier countries
(characterized by high risk or low income), in response to
their relatively lower private capital inflows and less
developed banking systems, as compared with medium (or low)
risk middle-income countries. The objective of this study,
therefore, is to evaluate the confluence of these two
institutional strategic priorities (support for MSMEs
through financial intermediaries, and support to enterprises
in frontier countries) as well as to provide recommendations
on how the strategy to support MSMEs through financial
intermediaries in frontier countries can be improved to
enhance its development impacts. This study evaluated the
outcomes of all 21 operationally mature, for-profit, micro
enterprise-oriented financial intermediary (MFI) projects
and all 72 operationally mature, for-profit, small and
medium-size enterprise-oriented financial intermediary
(SME-FI) projects supported by IFC in countries designated
as frontier countries at the time of project approval. |
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