On March 11, 2013, the International Finance Corporation (IFC), a member of the World Bank Group, and the Coca-Cola Company announced a $100 million, three-year joint initiate to provide much needed access to finance to thousands of women entrepreneurs in Africa and other emerging markets.
IFC plans to work through its network of local and regional banking institutions to provide financing and business skills training to small and medium enterprises that are owned or operated by women entrepreneurs across the Cola-Cola value chain, starting with an IFC investment in Access Bank, Nigeria.
The goal is to further Coca-Cola's 5by20 initiative which seeks to empower women entrepreneurs and help them to overcome the barriers they face to business success.
"Women entrepreneurs make significant contribution to emerging and developing economies, yet have lower access to finance than their male counterparts," said Nathan Kalumbu, president of Coca-Cola's Eurasia and Africa Group. "By providing greater access to capital, we are investing in our own success of the communities we serve. We are excited about this opportunity to harness the collective power of our organizations to positively impact women in Eurasia and Africa."
Source: www.ifc.org & www.blackenterprise.com
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