In a three-year $100 million partnership, announced in mid March, the International Finance Corporation (IFC, the World Bank’s private sector arm) and Coca-Cola will work together with female entrepreneurs in Africa and other emerging markets. This partnership will occur under a memorandum of understanding between the IFC’s Banking on Women Program and Coca-Cola’s 5by20 initiative, which aims to bring five million women into the company’s supply chain by 2020. Initially the partnership will focus on Nigeria, with an IFC investment of $22 million in Access Bank to provide loans to “thousands of women who are part of the [Coca-Cola] supply and distribution chain.” Patience Ekeoba of NGO ActionAid Nigeria said: “A major concern with these kinds of projects is that they do not benefit the poorest of the poor”, particularly “women in rural areas or those in urban poor settings”.
22 April 2013
Renewed calls for a substantial SDR allocation raise urgency of reforming the inequitable global reserve ‘non-system’.
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The Bretton Woods Project is a UK-based NGO that challenges the World Bank and IMF and promotes alternative approaches. We serve as an information provider, watchdog, networker and advocate. Our flagship publications are the Bretton Woods Observer, a quarterly critical review of developments at the World Bank and IMF, the Dispatch, a biannual analysis of the World Bank and IMF Spring and Annual Meetings, and the NewsLens, a bi-weekly roundup of key news and critical viewpoints published about the World Bank and IMF.
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