Alibaba, Credit Suisse, and the World Bank's International Finance Corporation have joined in a $220 miliion Series B and debt financing round for Hong Kong-based mobile lender WeLab.
International Finance Corporation (“IFC”), a member of the World Bank Group, and LMRKTS are pleased to announce an equity investment by IFC in LMRKTS to help expand LRMKTS into the emerging markets.
Asset Control, a leading provider of financial data management solutions, is proud to announce that it has been selected by The World Bank Group.
Remittances to developing countries grew only marginally in 2015, as weak oil prices and other factors strained the earnings of international migrants and their ability to send money home to their families, says the World Bank’s latest edition of the Migration and Development Brief, released today.
A new report from the World Bank has recorded a massive 20% drop in the numbers of unbanked consumers, as 700 million adults worldwide joined the formal banking system and became account holders between 2011 and 2014.
A World Bank report puts the global amount of remittances in 2014 at $582 billion and estimates that migrants paid an average of 7.9% in fees on these money transfers.
World Bank development investment offshoot IFC has invested $7 million in SafetyPay, a US-based company that enables consumers to pay for goods and services over the Web direct from their own bank account.
Remittance flows to the developing world are expected to total $406 billion this year, says the World Bank, but the promise of mobile remittances has yet to be fulfilled.
Around three-quarters of the world's population now have access to a mobile phone, sparking the creation of an emerging 'app economy', according to a new report by the World Bank.
IFC, a member of the World Bank Group, is making a $2.6 million (RUB 83 million) equity investment in datacenter operator IXcellerate to support the construction of a major data facility, expanding access to information technology infrastructure for businesses in Russia.
© Finextra Research 2018