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IFC Launches First Bond Supporting Women Entrepreneurs in Emerging Markets

Washington, DC, November 25, 2013 —IFC, a member of the World Bank Group, has launched the first bond program focused on creating opportunities for women entrepreneurs in emerging markets. The IFC Banking on Women bonds raised over $160 million for investments that support access to finance for women-owned or women-controlled enterprises.
One third of registered businesses worldwide are owned by women, yet less than 10 percent of these businesses have access to commercial bank loans. The net proceed of the IFC Banking on Women bonds will be allocated to IFC investments in financial intermediaries that are expanding their services for women-owned or women-controlled enterprises.
“Women in the private sector make important contributions to sustainable growth and shared prosperity and play critical roles in all aspects of public and private life,” said Jingdong Hua, IFC Vice President and Treasurer. “Through the IFC Banking on Women bonds, we are playing a catalytic role in drawing attention to the challenges faced by women entrepreneurs in emerging markets, while creating a new asset class for investors who want to help create solutions.”
IFC focuses on promoting opportunities for women—as leaders, as entrepreneurs, as employees, as consumers, and as stakeholders in business and government. Through its Banking on Women program, IFC works with companies and financial institutions that seek to strengthen and broaden their outreach to women. Since the launch of the program in late 2010, the program has supported $700 million in investments to small and medium enterprises owned or controlled by women.
The IFC Banking on Women bonds were sold in two tranches to Japanese retail and institutional investors and arranged and distributed by Daiwa Securities Co. Ltd.
Wolfgang Meyer, IFC Director for Treasury Market Operations, said: “IFC is a committed issuer in the Japanese market, and we are keen to further deepen our engagement. Based on market response to our first Banking on Women bonds, we see great potential for the program to grow in the coming years.”
Summary Terms of the Banking on Woman Bonds
Issuer
International Finance Corporation (IFC)
Currency
Australian Dollar (AUD)
Turkish Lira (TRY)
Tenor
5 years
Indicative Coupon
3.41% paid semi-annually
6.74% paid semi-annually
Notional Amount
AUD 86,100,000
TRY 163,700,000
Denominations
AUD 10,000
TRY 10,000
Offering Period
November 7, 2013 ~ November 19, 2013
Delivery of the Notes in Japan
November 22, 2013
Maturity Date
November 20, 2018
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org
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