The World Bank: International Finance Corporation IFC

International Finance Corporation IFC: The bank's International Finance Corporation IFC will invest up to 15 million euros in Dafiti and up to 10 million in Lamoda, acknowledging the importance of the retail sector for developing economies, according to Reuters. "Their investments in logistics, information technology and marketing are rapidly generating employment, especially for women and young people." The World Bank's private-sector arm is investing up to 25 million euros $34.18 million in two online retailers, Lamoda in Russia and Dafiti in Latin America, the latest fundraising success for German venture capital firm Rocket Internet. "Internet companies are speeding up modernization of the retail supply chain in developing countries, which promotes consumer spending -- a key component of economic growth," Atul Mehta, an IFC director, said in a statement. (www.immigrantscanada.com). As reported in the news.