Record amounts of funding from the International Finance Corporation (IFC) have been directed towards climate projects, micro, small, and medium-sized enterprises (MSMEs), women, and farmers in Asia and the Pacific. The funding, totaling $11 billion in the fiscal year ended June 30, aims to address various challenges such as climate change, gender inequality, food and energy insecurity, and inflation. The investments include long-term financing, mobilization, and short-term trade and supply-chain finance. Financial institutions in the region receive support to improve access to finance for MSMEs, particularly those owned by women, aiming to stimulate economic growth and create more inclusive societies. The IFC’s investments also contribute to increasing access to insurance and affordable housing loans, while promoting gender equality.
Resource: https://esgnews.com/ifcs-11-billion-committed-to-asia-pacific-region-sees-climate-projects-msmes-women-and-farmers-benefit/