Owned by 186 member countries and consistently rated AAA/Aaa. IFC aims to achieve our mission of promoting development by providing debt and equity to the private sector, through a range of benchmark and bespoke products.
$2,680,000.00 (Project budget includes all project-funded activities)
Last Updated Date
Oct 22, 2021
Project Estimated End Date
Jun 30, 2018
Project Description
The overall goal of this project is to support the partner MFIs and Fintech firms to achieve their chosen route of institutional transformation (Small Finance Banks, Payment Banks etc) through a provision of long-term, comprehensive and integrated suite of advisory services to expand financial services to their clients.
Development Results
This project is intended to promote financial inclusion of low-income households and small businesses in India. IFC will provide technical assistance to the some of the leading MFIs and firms to support their transformation into Small Finance Banks and Payment banks. IFC will support them in organizational transformation, product & channel innovation and business model designing. The success of this project will demonstrate recent innovations and global best practices that are useful in reaching out to financially underserved segments.
Indicator
Calendar Year 2020 Results
Cumulative Results as of 2020
Number of workshops, training events, seminars, conferences, etc.
100
105
Number of entities receiving advisory services
Not Available
1
Number of entities receiving in-depth advisory services
Not Available
5
Number of reports (assessments, surveys, manuals, Phase I/strategic option reports, research, analytical, evaluations, etc.) completed
Not Available
35
Number of risk management procedures/firm policies/practices/standards proposed for improvement or elimination (for Risk Management)
Not Available
4
Number of trainers trained
Not Available
Not Available
Number of training modules and new products developed
6
6
Number of women participants in workshops, training events, seminars, conferences, etc.
20
21
Number of new financial products designed
Not Available
14
Number of participants in workshops, training events, seminars, conferences, etc.
100
154
Number of participants providing feedback on satisfaction
100
100
Number of participants reporting satisfied or very satisfied with workshops, trainings, seminars, conferences, etc.
95
95
Number of procedures/firm-level policies/practices/standards recommended for improvement or elimination
Not Available
25
Number of micro loans outstanding
10,949
10,949
Number of reports accepted by client
Not Available
2
Number of new financial products launched
Not Available
9
Number of entities that implemented recommended changes
Not Available
8
Number of recommended procedures/firm-level policies/practices/standards that were improved or eliminated
Not Available
14
E&S Risks / Impacts and Mitigation
Performance Standard
Description and Potential Impact
Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts
As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC team has screened this project to assess consistency with IFC's Performance Standards. The principles of the relevant Performance Standards have been applied to the project design. Environmental and social risks will continue to be reviewed throughout the life-cycle of the project.
IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist the client, as the final decision maker, in gaining a good understanding of IFC's Performance Standards and will provide recommendations for appropriate mitigation measures whenever warranted.
Press-Release
Additional Documents
Similar Projects
This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.
The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.