Visa (V) and the International Finance Corporation, or IFC, the private-sector arm of the World Bank Group, are partnering on a risk-sharing initiative to expand digital financial services in emerging markets, the company said Wednesday.

Under the agreement, the IFC will share credit settlement risk for Visa transactions involving enrolled financial institutions, the company said.

The facility will provide about $200 million in risk sharing over five years, initially covering 14 Latin American and Caribbean countries and around 50 financial institutions with below-investment-grade ratings, Visa added.

Visa and the IFC said the arrangement is intended to enable participating financial institutions to connect more underbanked consumers and small businesses to digital payments.