MicroCapital: International Finance Corporation (IFC) to Invest $1.6m in Chinese-Mongolian Microcredit Company Urumqi Tianrong

International Finance Corporation (IFC), the private-investment arm of the World Bank Group, is making a CNY 10 million (USD 1.6 million) equity investment in Urumqi Tianrong Microcredit Company, a joint venture of Mongolia-based TenGer Financial Group (TFG), IFC and three unidentified investors from China and Mongolia. The amount of investment committed by TenGer and the other investors has not been disclosed. With its first branch opening in fall in the Xinjiang region of northwest China, Urumqi Tianrong aims to provide loans worth more than USD 200 million to 15,000 small businesses in the next two years. To read the full article, click hereInternational Finance Corporation (IFC) to Invest $1.6m in Chinese-Mongolian Microcredit Company Urumqi Tianrong

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