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Financial instruments

Financial instruments

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The EIB Group provides funding to financial institutions offering microfinance services in the form of loans, guarantees, equity participations and technical assistance grants. We can either be a direct investor in or indirectly finance these financial institutions through specialised intermediaries, such as microfinance investment vehicles (MIVs) or microfinance holding groups.

The EIB Group's financial instruments consist of:

Direct loans and equity participations in financial institutions:

Direct loans are credit facilities provided to microfinance providers at commercial rates for medium to long term tenors. In a number of eligible countries, loans are available in local currency. 

59%

Percentage of EIB’s microfinance portfolio dedicated to direct debt and equity finance transactions to 36 Financial Intermediaries as of December 2016.



Equity and debt participations in microfinance investment intermediaries:

A significant share of the EIB Group's investments in microfinance is allocated through specialised intermediaries or MIVs. In turn, MIVs provide debt, equity and guarantees to microfinance institutions which offer a wide range of financial services to micro, small and medium-sized enterprises, such as savings, loans, transfers and insurance.

41%

Percentage of EIB’s microfinance portfolio dedicated to financing 17 MIVs and holding companies as of December 2016



The balance of EIB's microfinance portfolio consists of technical assistance grants.



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