The IFC is mobilizing finance to the long overlooked private sector second tier in Latin America and the Caribbean. It has ramped up lending and equity commitments and hopes to accelerate this effort in the more impoverished countries.
The private arm of the World Bank is also lending more in local currency, pushing the development of onshore capital markets and cultivating relationships with second tier companies and banks. It hopes to build on its important technical assistance programs in the region's poorer countries, such as Haiti and Nicaragua, to lend and invest more in the private sector.
The IFC's mission to serve the private sector has accelerated at a time when credit is becoming increasingly available in LatAm and the Caribbean amid broader macroeconomic stability. "We realized two years ago that we needed to be shifting into the second tier and mid-sized segments very quickly," says Atul Mehta, head...
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