ShoreBank, known for its investments in community development in the U.S., is expanding its services to developing countries.
"Chicago's ShoreBank Corp., the South Shore bank known for making profitable investments in tired urban neighborhoods, is looking overseas for new business." The new division, ShoreCap International,"will work with local banks in poor areas of Asia, Africa and central Europe," as well as with an arm of the World Bank called the International Finance Corporation. "ShoreCap will invest in banks that will in turn lend to and advise new restaurants, manufacturers and other small businesses in developing countries."
Thanks to Connie Chung
FULL STORY: New ShoreBank venture to lend in poor parts of Asia, Africa, Europe
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