Financed projects by regions
Originally focusing mainly on the African, Caribbean and Pacific countries, our operations have been extended to Mediterranean Countries and Europe (including the EU and its neighbours). Operations inside Europe account for around three-quarters of the financing committed, while 75% of the number of microfinance operations are with counterparties outside the European Union.
- Africa, the Caribbean and the Pacific
The ACP region accounts for the lion's share of the EIB's microfinance portfolio with a total of approximately EUR 248m committed in debt and equity in both microfinance investment vehicles (MIVs) and microfinance institutions. Since 2005, the geographical focus of ACP microfinance operations has shifted from the Caribbean to Africa, where the EIB's portfolio stands at EUR 194m. Almost three-quarters of the ACP portfolio consists of investment in MIVs. For MIVs with a global scope, a corresponding proportion is earmarked for MFIs in ACP countries.
|Microfinance operations in the Africa, Caribbean & Pacific region (EUR m)|
|Signed Active Commitments|
|Access Microfinance Holding||Africa||5.2||2.0||7.2||www.accessholding.com|
|Microfinance Enhancement Facility||Africa||50.0||50.0|
|Rural Impulse Fund II||Africa||10.0||0.9||10.9||www.incofin.be|
|Rural Impulse Microfinance Fund||Africa||3.0||3.0||www.incofin.be|
|Private equity fund|
|Direct MFI relationship|
|Banco Ademi||Dominican Rep.||33.8||33.8||www.bancoademi.com.do|
|Banco Adopem||Dominican Rep.||17.0||17.0||www.bancoadopem.com.do|
|DFL / CML trinidad||Caribbean||2.0||2.0|
|Multiple MFIs||Dominican Rep.||1.5||1.5|
|Data as at December 2011|
- The Mediterranean Region
With the Facility for Euro-Mediterranean Investment and Partnership (FEMIP) Trust Fund, the EIB is the third largest microfinance lender in the Mediterranean region and has EUR 22.2m committed in direct local currency funding to microfinance institutions in Egypt, Lebanon, Morocco, Syria and Tunisia since 2003. Technical assistance affords further support for the establishment of new well-governed microfinance institutions or for helping existing ones to fully integrate into their local financial sector by obtaining financing from local banks. FEMIP’s microfinance resources have one very important advantage: the fact that loans can be provided in the local currency. The EIB bears, in exchange for a premium, the foreign exchange risk against the euro.
Finally, in the aftermath of the Arab Spring, the EIB in cooperation with the Luxembourgish Government and the participation of Appui au Développement Autonome (ADA), is developing MicroMED Tunisia, a key microfinance support pilot programme for developing the Tunisian microfinance sector, by providing technical assistance, capacity building and preparing loans.
|Microfinance operations in Mediterranean partner countries (EUR m)|
|Enda Inter Arabe||Tunisia||Debt||2.7|
|First Microfinance Syria||Syria||Equity||2.0|
|Data as at December 2011|
In the EU, the European Investment Fund (EIF) has been involved in the microfinance sector since 2000. We help address the financing gap faced by micro-enterprises by providing funding (equity and loans), guarantees and technical assistance to a broad range of microfinance providers. These range from small non-bank financial institutions to well-established microfinance banks. We have developed our expertise by managing specific initiatives on behalf of the European Commission and the EIB as well as by deploying our own financial resources.
Since May 2010, the EIF has managed the European Progress Microfinance Facility (Progress Microfinance), a EUR 203m flagship initiative funded by the European Commission and the EIB. Loans, equity and guarantees to European micro-enterprises are provided under this facility to a wide range of microfinance institutions (MFIs).
Progress Microfinance offers micro-credit, typically very small loans or lease receivables below EUR 25,000, tailored to the needs of micro-enterprises. This includes enterprises in the social economy providing jobs for the socially excluded with limited access to the conventional credit market. The two product lines are funded instruments and guarantee/counter-guarantee instruments. MFIs are selected according to their product needs and their ability to benefit target groups such as ethnic minorities, youth, women and rural entrepreneurs.
In addition, we help microfinance institutions with technical assistance through Joint Action to Support Microfinance Institutions in Europe (Jasmine) and we provide guarantees for microfinance intermediaries through the CIP SMEG programme. The EIB was also one of the early investors in the European Fund for South East-Europe, which is fosters economic development in the Balkans.
|Microfinance operations in Europe -EU, EU neighbourhood, Candidate and Potential Candidate Countries (EUR m)|
|EFSE SA Sicav SIF||Europe||Structured vehicles||5.0|
|EFSE SA Sicav SIF||Europe||Structured vehicles||50.0|
|PROGRESS MICROFINANCE FUND||Europe||Structured vehicles||100.0|
|Cacanska Banka||Serbia||Financial Institution||2.0|
|Caixa Capital Micro||Spain||Structured vehicles||0.8|
|CKB Montenegro||Montenegro||Financial Institution||2.1|
|First Step||Ireland||Financial Institution||0.4|
|GE Equipement Finance||France||Financial Institution||1.6|
|KfW (ex-DtA)||Germany||Public Institution||17.2|
|Microbank - La Caixa||Spain||Financial Institution||34.7|
|The Enterprise Fund||UK||Financial Institution||0.2|
|The Prince's Trust||UK||Financial Institution||9.4|
|Ziraat Bankasi||Turkey||Financial Institution||9.1|
|Jasmine||Europe||TA to MFIs||8.0|
|Data as at December 2011|