The International Finance Corporation(IFC), as a member of the World Bank, believes that sound,inclusive, and sustainable financial markets are essentialto building shared prosperity and ending extreme poverty.Access to finance is a key barrier to the growth of Smalland Medium Enterprises (SMEs) and the establishment ofmicro-enterprises. The access to finance gap in emergingmarkets is large, 2 billion adults do not have access tosavings or credit, while 200 million micro, small, andmedium enterprises (MSMEs) do not have access to credit.Working through financial intermediaries enables IFC toencourage them to become more involved in sectors which arestrategic priorities such as women-owned businesses, climatechange, and agriculture and in underserved regions such asfragile and conflict-affected states as well as in housing,manufacturing, infrastructure, and social services. Our workwith these clients has supported an estimated 100 millionjobs. Through its Advisory Services, IFC has also scaled upthe sustainable provision of financial services indeveloping countries by addressing systemic issues such ascredit information and credit bureaus, improvements in riskmanagement, corporate governance, and the introduction ofenvironmental and social standards. The approaches providedin this handbook are complementary to a bank’s existing riskmanagement practices and framework and can provide a usefultool and guide for banks to further improve theeffectiveness of their risk management activities. In riskmanagement, there cannot be a ‘one size fits all’ solution,and therefore recommendations provided should be tailored tofit each bank’s size, complexity of business, and any otherrules, regulations, and guidelines provided by the bank’s regulator.
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