The International Finance Corporation (IFC) will provide a $50 million syndicated loan to Acleda Bank to boost lending to small and medium enterprises, of which at least half will support women-owned enterprises, it said yesterday.

In Channy, president and group managing director of Acleda Bank, said women-owned businesses were an important part of the economy, but their access to finance was limited.

He said the funding would allow Acleda Bank to reach more women-owned SMEs to help them grow and expand their businesses.

The $50 million financing package includes $30 million from the IFC and $20 million from French banking Group BRED Banque Populaire.