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PROGRESSION MICROFINANCE EQUITY FUND

Signature(s)

Amount
€ 5,962,140.41
Sector(s)
Services : € 5,962,140.41
Signature date(s)
20/12/2011 : € 5,962,140.41
Link to source
Data sheet
PROGRESSION MICROFINANCE EQUITY FUND
Other links
Summary sheet
Progression Eastern African Microfinance Equity Fund

Summary sheet

Release date
4 October 2011
Status
Reference
Under appraisal | 04/10/2011
20110364
Project name
Promoter - financial intermediary
Progression Eastern African Microfinance Equity Fund

Progression Eastern African Microfinance Equity Fund, a limited life investment fund to be incorporated in Mauritius.

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 8 million
USD 40 million
Location
Sector(s)
Description
Objectives

Equity participation in a regional microfinance investment fund targeting Microfinance Institutions and other Microfinance intermediaries in Eastern Africa.

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.

Environmental aspects
Procurement

Not applicable.

Not applicable.

Link to source
Summary sheet
Progression Eastern African Microfinance Equity Fund
Other links
Data sheet
PROGRESSION MICROFINANCE EQUITY FUND

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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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