International Finance Corporation (IFC), a member of the World Bank Group, has concluded an agreement over a financing scheme of no more than 900 million yuan for females with China's Bank of Luoyang Thursday.
The scheme, initiated for a female dream plan created by IFC and Goldman Sachs, contains two sub-programs, namely, a project with unfunded risk participation by IFC and a financial consultancy project.
According to IFC, it plans to grant no more than 900 million yuan of loan portfolio to qualified female financing programs, with at maximum 450 million yuan of the loan portfolio guaranteed by 3.5-year-long unfunded risk participation.
Meanwhile, IFC also intended to cooperate with Bank of Luoyang to offer financial consultancy programs for qualified businesswomen of small firms.
Under the program, each qualified female borrower can obtain up to three million yuan of loans.
In 2014, IFC and Goldman Sachs initiated the female dream plan involving 600 million US dollars of capital to help about 100,000 female merchants fill in a capital gap of 285 billion US dollars. So far, the tool has completed 254 million US dollars of investment and consulting services for 16 projects in 11 emerging markets.
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