Financing Micro, Small, and Medium Enterprises : An Independent Evaluation of IFC's Experience with Financial Intermediaries in Frontier Countries
Since the mid-1990s, the International Finance Corporation (IFC) has designed a number of strategies for supporting micro, small, and medium-size enterprises (MSMEs). The IFC strategy in place since 2001 focuses on: (i) providing financial support...
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| Format: | Publication |
| Language: | English en_US |
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Washington, DC : World Bank
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2008/01/9718593/financing-micro-small-medium-enterprises-independent-evaluation-ifcs-experience-financial-intermediaries-frontier-countries http://hdl.handle.net/10986/6485 |
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okr-10986-6485 |
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oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO FINANCE ACQUISITION COSTS ADMINISTRATIVE SUPPORT ADVISORY SERVICE ADVISORY SERVICES AGENCY LINES BANK BRANCH BANK BRANCH NETWORK BANK EQUITY BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKING SYSTEMS BEST PRACTICE BILATERAL AID BORROWER BOUNDARIES BUSINESS ACTIVITIES BUSINESS CLIMATES BUSINESS SUCCESS CAPACITY BUILDING CAPITAL BASE CAPITAL INVESTMENTS COMMERCIAL BANK COMMERCIAL BANKS CONSTRAINT CONTRIBUTION CONTRIBUTIONS CRISES DEPOSIT DEPOSIT MOBILIZATION DEPOSITS DEVALUATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DEVELOPMENT BANKS DIRECT LOAN DISCLOSURE OF INFORMATION DURABLE ECONOMIC DEVELOPMENT ECONOMIES OF SCALE EQUITY CAPITAL EQUITY INVESTMENT EQUITY INVESTMENTS EQUITY INVESTOR EQUITY RETURNS EQUITY STAKES EQUITY VALUES EXCHANGE RATE EXIT MECHANISM FIDUCIARY RESPONSIBILITY FINANCIAL CAPACITY FINANCIAL CRISES FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SUPPORT FINANCIAL SYSTEM FISCAL YEARS FOREIGN CURRENCY FOREIGN CURRENCY LOANS FOREIGN EXCHANGE FOREIGN INVESTMENT FRONTIER FUND MANAGER FUNDING SOURCES HOLDING HOLDING COMPANIES HOUSEHOLDS IFC IMF INSTITUTIONAL CAPACITY INSTITUTIONAL CAPACITY BUILDING INSTRUMENT INTEREST RATES INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONALIZATION INVESTMENT FUNDS INVESTMENT PROJECTS INVESTMENT RETURNS LENDING TECHNIQUES LIFETIME LIQUIDITY LIQUIDITY MANAGEMENT LOAN LOAN PORTFOLIO LOAN PORTFOLIOS LOAN RATES LOCAL CURRENCY LOCAL FINANCIAL MARKETS LONG-TERM FINANCE LOW INCOME LOW-INCOME LOWER INCOME MATURITY MEDIUM ENTERPRISE MEDIUM ENTERPRISES MFI MFIS MICROCREDIT MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTIONS MIDDLE EAST MULTILATERAL DEVELOPMENT BANKS NEW COMPANIES NONGOVERNMENTAL ORGANIZATION NONPERFORMING LOAN NORTH AFRICA NOW ACCOUNTS OUTREACH PORTFOLIO RISK PORTFOLIO RISK MANAGEMENT PRIVATE CAPITAL PRIVATE CAPITAL INFLOWS PRIVATE EQUITY PROFITABILITY PROFITABLE BUSINESS PROJECT DESIGN PUBLIC CONFIDENCE PUT OPTIONS REAL SECTOR RECONSTRUCTION REGIONAL BANKS REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REMITTANCE REMITTANCE SERVICES REMITTANCES REPAYMENT REPAYMENT RATE RETURNS ON EQUITY RISK MANAGEMENT SAHARA SAVINGS SAVINGS DEPOSIT SAVINGS DEPOSITS SAVINGS SERVICES SENIOR SERVICES FOR LOW-INCOME HOUSEHOLDS SHAREHOLDER SHAREHOLDERS SMALL BUSINESSES SMALL ENTERPRISE START-UP SUB-SAHARAN AFRICA SUBSIDIARY TECHNICAL ASSISTANCE TRANSPARENCY |
| spellingShingle |
ACCESS TO FINANCE ACQUISITION COSTS ADMINISTRATIVE SUPPORT ADVISORY SERVICE ADVISORY SERVICES AGENCY LINES BANK BRANCH BANK BRANCH NETWORK BANK EQUITY BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKING SYSTEMS BEST PRACTICE BILATERAL AID BORROWER BOUNDARIES BUSINESS ACTIVITIES BUSINESS CLIMATES BUSINESS SUCCESS CAPACITY BUILDING CAPITAL BASE CAPITAL INVESTMENTS COMMERCIAL BANK COMMERCIAL BANKS CONSTRAINT CONTRIBUTION CONTRIBUTIONS CRISES DEPOSIT DEPOSIT MOBILIZATION DEPOSITS DEVALUATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DEVELOPMENT BANKS DIRECT LOAN DISCLOSURE OF INFORMATION DURABLE ECONOMIC DEVELOPMENT ECONOMIES OF SCALE EQUITY CAPITAL EQUITY INVESTMENT EQUITY INVESTMENTS EQUITY INVESTOR EQUITY RETURNS EQUITY STAKES EQUITY VALUES EXCHANGE RATE EXIT MECHANISM FIDUCIARY RESPONSIBILITY FINANCIAL CAPACITY FINANCIAL CRISES FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SUPPORT FINANCIAL SYSTEM FISCAL YEARS FOREIGN CURRENCY FOREIGN CURRENCY LOANS FOREIGN EXCHANGE FOREIGN INVESTMENT FRONTIER FUND MANAGER FUNDING SOURCES HOLDING HOLDING COMPANIES HOUSEHOLDS IFC IMF INSTITUTIONAL CAPACITY INSTITUTIONAL CAPACITY BUILDING INSTRUMENT INTEREST RATES INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONALIZATION INVESTMENT FUNDS INVESTMENT PROJECTS INVESTMENT RETURNS LENDING TECHNIQUES LIFETIME LIQUIDITY LIQUIDITY MANAGEMENT LOAN LOAN PORTFOLIO LOAN PORTFOLIOS LOAN RATES LOCAL CURRENCY LOCAL FINANCIAL MARKETS LONG-TERM FINANCE LOW INCOME LOW-INCOME LOWER INCOME MATURITY MEDIUM ENTERPRISE MEDIUM ENTERPRISES MFI MFIS MICROCREDIT MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTIONS MIDDLE EAST MULTILATERAL DEVELOPMENT BANKS NEW COMPANIES NONGOVERNMENTAL ORGANIZATION NONPERFORMING LOAN NORTH AFRICA NOW ACCOUNTS OUTREACH PORTFOLIO RISK PORTFOLIO RISK MANAGEMENT PRIVATE CAPITAL PRIVATE CAPITAL INFLOWS PRIVATE EQUITY PROFITABILITY PROFITABLE BUSINESS PROJECT DESIGN PUBLIC CONFIDENCE PUT OPTIONS REAL SECTOR RECONSTRUCTION REGIONAL BANKS REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REMITTANCE REMITTANCE SERVICES REMITTANCES REPAYMENT REPAYMENT RATE RETURNS ON EQUITY RISK MANAGEMENT SAHARA SAVINGS SAVINGS DEPOSIT SAVINGS DEPOSITS SAVINGS SERVICES SENIOR SERVICES FOR LOW-INCOME HOUSEHOLDS SHAREHOLDER SHAREHOLDERS SMALL BUSINESSES SMALL ENTERPRISE START-UP SUB-SAHARAN AFRICA SUBSIDIARY TECHNICAL ASSISTANCE TRANSPARENCY Independent Evaluation Group Financing Micro, Small, and Medium Enterprises : An Independent Evaluation of IFC's Experience with Financial Intermediaries in Frontier Countries |
| description |
Since the mid-1990s, the International
Finance Corporation (IFC) has designed a number of
strategies for supporting micro, small, and medium-size
enterprises (MSMEs). The IFC strategy in place since 2001
focuses on: (i) providing financial support to MSMEs through
financial intermediaries; and (ii) providing non-financial,
indirect, institution-building support to MSMEs through
project-development facilities co-financed by donors. In
addition, IFC's corporate strategies focus on
supporting private sector development in frontier countries
(characterized by high risk or low income), in response to
their relatively lower private capital inflows and less
developed banking systems, as compared with medium (or low)
risk middle-income countries. The objective of this study,
therefore, is to evaluate the confluence of these two
institutional strategic priorities (support for MSMEs
through financial intermediaries, and support to enterprises
in frontier countries) as well as to provide recommendations
on how the strategy to support MSMEs through financial
intermediaries in frontier countries can be improved to
enhance its development impacts. This study evaluated the
outcomes of all 21 operationally mature, for-profit, micro
enterprise-oriented financial intermediary (MFI) projects
and all 72 operationally mature, for-profit, small and
medium-size enterprise-oriented financial intermediary
(SME-FI) projects supported by IFC in countries designated
as frontier countries at the time of project approval. |
| format |
Publications & Research :: Publication |
| author |
Independent Evaluation Group |
| author_facet |
Independent Evaluation Group |
| author_sort |
Independent Evaluation Group |
| title |
Financing Micro, Small, and Medium Enterprises : An Independent Evaluation of IFC's Experience with Financial Intermediaries in Frontier Countries |
| title_short |
Financing Micro, Small, and Medium Enterprises : An Independent Evaluation of IFC's Experience with Financial Intermediaries in Frontier Countries |
| title_full |
Financing Micro, Small, and Medium Enterprises : An Independent Evaluation of IFC's Experience with Financial Intermediaries in Frontier Countries |
| title_fullStr |
Financing Micro, Small, and Medium Enterprises : An Independent Evaluation of IFC's Experience with Financial Intermediaries in Frontier Countries |
| title_full_unstemmed |
Financing Micro, Small, and Medium Enterprises : An Independent Evaluation of IFC's Experience with Financial Intermediaries in Frontier Countries |
| title_sort |
financing micro, small, and medium enterprises : an independent evaluation of ifc's experience with financial intermediaries in frontier countries |
| publisher |
Washington, DC : World Bank |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2008/01/9718593/financing-micro-small-medium-enterprises-independent-evaluation-ifcs-experience-financial-intermediaries-frontier-countries http://hdl.handle.net/10986/6485 |
| _version_ |
1764397910386016256 |
| spelling |
okr-10986-64852021-04-23T14:02:25Z Financing Micro, Small, and Medium Enterprises : An Independent Evaluation of IFC's Experience with Financial Intermediaries in Frontier Countries Independent Evaluation Group ACCESS TO FINANCE ACQUISITION COSTS ADMINISTRATIVE SUPPORT ADVISORY SERVICE ADVISORY SERVICES AGENCY LINES BANK BRANCH BANK BRANCH NETWORK BANK EQUITY BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKING SYSTEMS BEST PRACTICE BILATERAL AID BORROWER BOUNDARIES BUSINESS ACTIVITIES BUSINESS CLIMATES BUSINESS SUCCESS CAPACITY BUILDING CAPITAL BASE CAPITAL INVESTMENTS COMMERCIAL BANK COMMERCIAL BANKS CONSTRAINT CONTRIBUTION CONTRIBUTIONS CRISES DEPOSIT DEPOSIT MOBILIZATION DEPOSITS DEVALUATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DEVELOPMENT BANKS DIRECT LOAN DISCLOSURE OF INFORMATION DURABLE ECONOMIC DEVELOPMENT ECONOMIES OF SCALE EQUITY CAPITAL EQUITY INVESTMENT EQUITY INVESTMENTS EQUITY INVESTOR EQUITY RETURNS EQUITY STAKES EQUITY VALUES EXCHANGE RATE EXIT MECHANISM FIDUCIARY RESPONSIBILITY FINANCIAL CAPACITY FINANCIAL CRISES FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SUPPORT FINANCIAL SYSTEM FISCAL YEARS FOREIGN CURRENCY FOREIGN CURRENCY LOANS FOREIGN EXCHANGE FOREIGN INVESTMENT FRONTIER FUND MANAGER FUNDING SOURCES HOLDING HOLDING COMPANIES HOUSEHOLDS IFC IMF INSTITUTIONAL CAPACITY INSTITUTIONAL CAPACITY BUILDING INSTRUMENT INTEREST RATES INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONALIZATION INVESTMENT FUNDS INVESTMENT PROJECTS INVESTMENT RETURNS LENDING TECHNIQUES LIFETIME LIQUIDITY LIQUIDITY MANAGEMENT LOAN LOAN PORTFOLIO LOAN PORTFOLIOS LOAN RATES LOCAL CURRENCY LOCAL FINANCIAL MARKETS LONG-TERM FINANCE LOW INCOME LOW-INCOME LOWER INCOME MATURITY MEDIUM ENTERPRISE MEDIUM ENTERPRISES MFI MFIS MICROCREDIT MICROENTERPRISES MICROFINANCE MICROFINANCE INSTITUTIONS MIDDLE EAST MULTILATERAL DEVELOPMENT BANKS NEW COMPANIES NONGOVERNMENTAL ORGANIZATION NONPERFORMING LOAN NORTH AFRICA NOW ACCOUNTS OUTREACH PORTFOLIO RISK PORTFOLIO RISK MANAGEMENT PRIVATE CAPITAL PRIVATE CAPITAL INFLOWS PRIVATE EQUITY PROFITABILITY PROFITABLE BUSINESS PROJECT DESIGN PUBLIC CONFIDENCE PUT OPTIONS REAL SECTOR RECONSTRUCTION REGIONAL BANKS REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REMITTANCE REMITTANCE SERVICES REMITTANCES REPAYMENT REPAYMENT RATE RETURNS ON EQUITY RISK MANAGEMENT SAHARA SAVINGS SAVINGS DEPOSIT SAVINGS DEPOSITS SAVINGS SERVICES SENIOR SERVICES FOR LOW-INCOME HOUSEHOLDS SHAREHOLDER SHAREHOLDERS SMALL BUSINESSES SMALL ENTERPRISE START-UP SUB-SAHARAN AFRICA SUBSIDIARY TECHNICAL ASSISTANCE TRANSPARENCY Since the mid-1990s, the International Finance Corporation (IFC) has designed a number of strategies for supporting micro, small, and medium-size enterprises (MSMEs). The IFC strategy in place since 2001 focuses on: (i) providing financial support to MSMEs through financial intermediaries; and (ii) providing non-financial, indirect, institution-building support to MSMEs through project-development facilities co-financed by donors. In addition, IFC's corporate strategies focus on supporting private sector development in frontier countries (characterized by high risk or low income), in response to their relatively lower private capital inflows and less developed banking systems, as compared with medium (or low) risk middle-income countries. The objective of this study, therefore, is to evaluate the confluence of these two institutional strategic priorities (support for MSMEs through financial intermediaries, and support to enterprises in frontier countries) as well as to provide recommendations on how the strategy to support MSMEs through financial intermediaries in frontier countries can be improved to enhance its development impacts. This study evaluated the outcomes of all 21 operationally mature, for-profit, micro enterprise-oriented financial intermediary (MFI) projects and all 72 operationally mature, for-profit, small and medium-size enterprise-oriented financial intermediary (SME-FI) projects supported by IFC in countries designated as frontier countries at the time of project approval. 2012-05-25T21:52:21Z 2012-05-25T21:52:21Z 2008 http://documents.worldbank.org/curated/en/2008/01/9718593/financing-micro-small-medium-enterprises-independent-evaluation-ifcs-experience-financial-intermediaries-frontier-countries 978-0-8213-7417-7 http://hdl.handle.net/10986/6485 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC : World Bank Publications & Research :: Publication Publications & Research :: Publication |