Reference: 20110364
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 data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

Regional - East Africa Services