IFC launched risk-sharing initiative to help FIs in emerging markets to expand access to digital payments

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NOTE: 

  1. IFC : International Finance Corporation
  2. FIs : Financial Institutions 

This risk sharing initiative is launched by International Finance Corporation ( IFC ), a member of the World Bank Group.

Its aim is to help banks, fintechs, and other Financial Institutions ( FIs ) in emerging markets expand access to digital payments for consumers and small businesses.

Under the initiative, $700 million in guarantees is provided to cover a portion of the credit settlement risk, thus enabling more institutions to offer innovative and reliable digital payment services.

Initiative aims to enable Financial Institutions to offer digital payment services to customers including small business owners, women entrepreneurs, and people historically shut out of the formal financial system.

World Bank Group

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