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IFC and Nigeria’s LAPO Partner to Expand Microfinance Lending in Sub-Saharan Africa

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IFC and Nigeria’s LAPO Partner to Expand Microfinance Lending in Sub-Saharan Africa

Lagos, Nigeria, April 28, 2021— To help expand banking services to low-income populations in sub-Saharan Africa, the International Finance Corporation (IFC) today announced a partnership with the Lift Above Poverty Organization (LAPO), which is seeking to expand its microfinance business to some of the continent’s less developed economies and fragile states. IFC is a member of the World Bank Group.

Under the partnership, IFC will conduct market analysis of several African countries, including fragile states, and provide advisory support to LAPO to help it expand its microfinance business beyond Nigeria and Sierra Leone, where it currently operates with more than 495 branches, serving over 800,000 customers.

LAPO‘s planned microfinance expansion will help boost financial inclusion and increase lending to individuals and micro and small businesses in the region, stimulating economic activity. The expansion will specifically target women borrowers, low-income earners, and those in rural areas. READ MORE ON PRESSROOM.IFC


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