International Finance Corp. (IFC), the private-sector lending arm of the World Bank Group (WBG), has approved a financing investment of more than $10 million for Dali Discount AG (DALI) to support the expansion of its grocery network in the Philippines.
According to IFC’s latest updated disclosure on Oct. 28, its Washington-based board approved on Oct. 22 a quasi-equity financing of up to $10.07 million (over ₱595 million) for DALI to expand its grocery network in the country, with the investment’s status now pending signing.
Established at the height of the Covid-19 pandemic in 2020, DALI has quickly posi
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