section on world bank's connections with MFI
May08: The International Finance Corp, the World Bank's private-sector lender, said it will invest $45 million (23.1 million pounds) in credit-linked notes issued by Microfinance Institutional Loans for Asia and Africa (MILAA) established by Standard Chartered to expand its lending to the microfinance sector…The transaction will enable Standard Chartered to issue additional credit to microfinance institutions that deliver loans to small companies or to the poor who do not have access to mainstream banking in developing countries."This transaction will unlock more funding for microfinance," said Peter Sands, Standard Chartered Group's chief executive, in a joint statement with the IFC. "We believe improving access to finance is a key lever in reducing poverty and catalyzing broader social and economic development," Sands added.
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