Release date: 23 February 2009
Promoter – Financial Intermediary
Microfinance Enhancement Facility SA SICAV
Location
Description
Microfinance Enhancement Facility (MEF), a specialised investment fund in Luxembourg, promoted by IFC and KfW in order to enhance liquidity support to microfinance institutions for a limited period of time.
Objectives
This operation aims to meet the objectives of the Cotonou Agreement for the eradication of poverty by supporting the improvement in the quality, availability and accessibility of financial services and the development of modern financial institutions and sustainable microfinance operations.
The key strategic objectives of the operation are:
- Liquidity enhancement for commercially viable microfinance institutions (MFIs) that meet rigorous eligibility criteria;
- Provision of credit to micro and small enterprises through MFIs targeted by MEF.
As such it is one of a series of EIB operations that are running concurrently in the microfinance sector. These include equity, direct lending and technical assistance to microfinance investment vehicles, banks, microfinance and microinsurance institutions.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to USD 50 million.
Total cost (Approximate amount)
USD 500 million.
Environmental aspects
Environmental analysis accourding to guidelines acceptable to the Bank will be part of the Fund’s due diligence process in the appraisal of investee companies.
Procurement
Not applicable.
Status
Signed - 11/09/2009
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).