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Signature(s)

Amount
€ 11,265,490.05
Sector(s)
Services : € 11,265,490.05
Signature date(s)
5/05/2010 : € 11,265,490.05
Link to source

Summary sheet

Release date
20 March 2009
Status
Reference
Signed | 05/05/2010
20090010
Project name
Promoter - financial intermediary
Regmifa Microfinance Fund for Africa

Regional Micro Small and Medium Enterprises (MSME) Investment Fund for Sub-Saharan Africa (REGMIFA) to be incorporated in Mauritius.

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 15 million in investment and up to EUR 2 million in TA.
USD 110 million.
Location
Sector(s)
Description
Objectives

Regional Micro, Small and Medium Enterprises (MSME) Investment Fund for Sub-Saharan Africa (REGMIFA) shall be a specialised investment fund that will be established in Mauritius, promoted by a donor consortium composed of leading Donors/DFIs and IFIs and led by German Financial Cooperation (KfW), in order to enhance long and medium financial needs of local financial intermediaries providing funding to Micro, Small and Medium Entreprises in Sub-Saharan Africa.

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:

  • Medium to long term debt financing of commercially viable and preferably smaller MSME lending intermediaries in all Sub-Saharan Africa with a particular emphasis on local currency funding;
  • Provision of Technical Assistance to support the growth process of the institutions.

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 regulated and non-regulated Microfinance Institutions (MFIs), local banks and other financial institutions which provide financing to Micro, Small and Medium Enterprises (MSME) in Sub-Saharan Africa.

Environmental aspects
Procurement

Environmental analysis according to guidelines acceptable to the Bank will be part of the Fund’s due diligence process in the appraisal of investee companies.

EIB will ensure that the procurement of TA services conforms to the EIB’s standards.

Link to source

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).

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