English | دری

World Bank’s IFC to acquire equity stake in Afghanistan International Bank

in Afghan Business

World Bank’s IFC to acquire equity stake in Afghanistan International Bank

The International Finance Corporation (IFC), a member of the World Bank, is looking to invest in the Afghanistan International Bank (AIB) with an aim to help the Afghan bank boost its commercial lending and financial inclusion.

Afghanistan’s per capita income of $562 in 2016 was the lowest in Asia and among the 20 lowest in the world. According to World Bank Group estimates, 96 percent of the Afghan population does not have access to banking services. A 2014 Enterprise Survey found that only 5 percent of firms had a line of credit and just 2 percent used banks for their funding needs.

“SMEs are critical for economic and social development, yet many still struggle to access funding. This project will help boost access to finance for such businesses and will also help strengthen and build confidence in Afghanistan’s financial sector at a challenging time, helping the government with its reform agenda.”

The partnership between IFC and AIB aims to aid Afghanistan in its economic recovery by boosting financial inclusion.

“Extending banking facilities to small- and medium-sized companies is one of our strategic priorities. IFC’s expertise in the SME segment will help AIB to grow its existing loan portfolio, and enable AIB to increase its contribution to Afghanistan’s economic growth by boosting access to bank financing,”



Related Articles

Germany supports construction of urban drinking water supply system in Faizabad

In partnership with the Ministry of Urban Development, the German Government has committed almost €8.15 million in financial support to

200 Afghan families to have access to potable water in Samangan

Water storage is going to be established in Surkhak Cheshma village of Khuram Sarbagh district in Samangan province that will

Afghan presidential candidates criticized for using foreign printing industry

Afghan presidential election campaign officially kicked off on 02 February 2014 and ever since printed promotional materials of the candidates

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.