IFC buying...

wave of such projects, which will require massive financing over longer tenors.

“The continued support of IFC, through its commitment of up to $75 million, was a key ingredient to the success of RCBC’s bond issuance, with the participation of more than 100 domestic and international investors,” Lorenzo Tan, RCBC president and chief executive said.

Acting as anchor investor for the bond offer is the latest support provided by IFC to RCBC.

In 2014, IFC lent $30 million to RCBC to increase its financing of SMEs, including women-led businesses, and spur job creation and help support Yolandaaffected SMEs.

IFC is also helping RCBC design non-financial services, strategies, and products for small and medium enterprises in the Philippines.

Non-financial services are valueadded services that are essential for the growth of SMEs, but are difficult for SMEs to access. Strengthening SMEs creates jobs and diversifies the economic base.

IFC recently completed a project to help develop RCBC’s Women in Business Program to significantly improve the bank’s offering to women entrepreneurs. The project won the IFC CEO Gender Award for IFC’s East Asia Pacific team.

IFC and the IFC Capitalization Fund are shareholders of RCBC and have a total ownership stake of 7.71 percent in the bank as of June 2015.