Release date: 4 October 2011
Promoter – Financial Intermediary
Progression Eastern African Microfinance Equity Fund, a limited life investment fund to be incorporated in Mauritius.
Location
Description
Equity participation in a regional microfinance investment fund targeting Microfinance Institutions and other Microfinance intermediaries in Eastern Africa.
Objectives
The Fund’s objective is to achieve growth and development of Microfinance Institutions and other Microfinance intermediaries located in Eastern Africa mainly through equity and equity-related investments. In doing so, the Fund will contribute to the promotion of financial inclusion in the region.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 8 million
Total cost (Approximate amount)
USD 40 million
Environmental aspects
Not applicable.
Procurement
Not applicable.
Status
Under appraisal - 4/10/2011
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).