PlaNet Bank

completed

The project involves the creation of a greenfield bank holding company, PlaNet Bank (PB or the company) that will make equity and quasi-equity investments in either newly created or existing Microfinance Institutions (MFIs) with the aim of creating a network of affiliated microfinance institutions initially focusing on Francophone Africa and then expanding to other regions of the world. This project will create a new institution, allowing IFC to broaden its grasp of MFIs, while achieving economies of scale in structuring investments that the corporation could not handle on its own because of their smaller size. PB’s purpose is to create a group of commercial MFIs able to offer financial services to low-income entrepreneurs in developing countries. PB will have an initial capitalization of up to €30 million, split as €20 million in equity and €10 million in subordinated debt. PB intends to create/control a network of 15 banks by year 5 and plans on owning at least an initial 30% stake in new MFIs while gaining a controlling stake through like-minded investors.