Release date: 23 April 2007
Promoter – Financial Intermediary
IncofinLocation
Description
A microfinance fund to be incorporated in Luxembourg with an objective to make debt and/or equity investments in microfinance institutions which provide financial services to the rural poor.
Objectives
The fund's key objective is to provide local currency financing to rural microfinance institutions operating in developing countries and to ensure the capital preservation and a reasonable return for the shareholders. The first closing will include BIO, FMO, IFC, Incofin and KBC Private Equity.
Comments
Microfinance sector.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 3 million (USD 3.5 million).
Total cost (Approximate amount)
Up to EUR 30 million (USD 36 million).
Environmental aspects
Investee companies to meet minimum environmental standards to be specified and monitored by the Manager of the holding company.
Procurement
Not applicable.
Status
Under appraisal - 10/08/2007