Independent report

International Finance Corporation (IFC) Global small and medium-sized enterprises (SME) Finance Initiative: Mid-term review

The Initiative was created to increase access to finance for small and medium-sized enterprises (SMEs), and subsequently create new employment opportunities in some of the world’s most challenging economies.



The Initiative employs 3 instruments:

  • advisory services to partner financial institutions (PFIs)
  • advisory services to strengthen financial infrastructure
  • blended finance investments, combining commercial investment capital with risk mitigation instruments that aim to unlock investment that would not otherwise occur

DFID seeded the Initiative with $64 million in concessional investment capital which is being used reduce the rates on IFCs investment services (IS), $29.4 million in funding to support advisory services (AS) projects aimed at supporting PFIs, and $13.6 million in funding for developing financial infrastructure in DFID target countries.

Published 21 January 2016
Last updated 15 April 2016 + show all updates
  1. DFID management response to the Global SME Finance Initiative Mid-term review added
  2. First published.