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    Signature(s)

    Amount
    € 5,000,000
    Countries
    Sector(s)
    ACP States : € 5,000,000
    Services : € 5,000,000
    Signature date(s)
    15/12/2020 : € 5,000,000

    Summary sheet

    Release date
    10 August 2020
    Status
    Reference
    Signed | 15/12/2020
    20200069
    Project name
    Promoter - financial intermediary
    LUXEMBOURG MICROFINANCE AND DEVELOPMENT FUND II
    APPUI AU DEVELOPPEMENT AUTONOME,INVESTING FOR DEVELOPMENT SICAV - LUXEMBOURG MICROFINANCE AND DEVELOPMENT FUND
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 5 million
    EUR 50 million
    Location
    Sector(s)
    Description
    Objectives

    Investment in Class B Shares issued by the Luxembourg Microfinance and Development Fund (LMDF), a specialised microfinance investment vehicle targeting Tier 2-3 microfinance institutions in developing countries including the Africa, the Caribbean and Pacific (ACP) region.

    LMDF's primary objective is to address poverty and inequality by facilitating the growth of emerging Microfinance Institutions (MFIs) that address the financial needs of marginalised communities and individuals in developing countries in Africa, Asia and Latin America. LMDF focuses on Tier 2 and Tier 3 MFIs, because they tend to reach into poorer segments of clients (with a focus on women, youth and rural populations) by targeting populations with lower loan amounts, and tend to operate in regions less developed in terms of financial inclusion. In terms of instruments, the Fund provides debt (majority of investments), equity and quasi-equity investments.

    Environmental aspects
    Procurement

    As a fund manager investing in inclusive finance, LMDF has a long-term interest and has included Environmental, Social and Corporate Governance (ESG) issues in its investment policies and reporting. If MFIs have not established environmental policies, LMDF will encourage them to better balance their lending practices with the need for a healthy environment.

    N/A

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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