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International Finance Corporation (IFC), a member of the World Bank Group, said it is providing USD 16 million (EUR 14.5 mln) to Romania’s BT Mic to improve access to finance for micro and small enterprises (MSEs) and toward financial inclusion of women-owned small businesses in the country.
The financing to BT Mic is designed to address the challenges that MSEs face in access to finance in Romania, IFC said in a press release.
Half of the IFC financing is earmarked for women-owned enterprises, seeking to empower them to play a larger role in the economy, the IFC added.