The FINANCIAL — IFC, a member of the World Bank Group, helped its clients double the number of loans provided to farmers in 2014, significantly expanding access to finance and boosting productivity and access to new markets.
In 2013, IFC investees reached some 225,000 farmers. Last year the total was nearly 470,000 – a 110 percent increase in just one year. The vast majority of farms in the ECA region qualify as small and medium enterprises (SMEs), which are the primary engine for job creation in developing countries, according to a 2011 World Bank Policy Research Paper.
IFC clients that contributed to this increase include Turkey’s DenizBank and Seker Bank, the Viktoria Group in Serbia, and Agricover Credit in Romania.