fintech / news / / Reuters
The facility is designed to strengthen the IFC’s ability to provide rand funding to private-sector borrowers.
IFC launched a new facility to provide rand funding to private-sector borrowers in South Africa.
KEY POINTS
- The facility has already supported IFC’s investment in the Cape Water outcome-based bond by FirstRand Bank.
- This rand facility follows a similar pilot facility in Kenyan shillings launched with Citi in 2024.
- Last fiscal year, 30% of World Bank's own-account lending was conducted in local currency.
COMPANIES
Summarized by Newsio from Reuters. How we summarize →