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        RURAL IMPULSE MICROFINANCE FUND

        Signature(s)

        Amount
        € 2,794,331.36
        Sector(s)
        Services : € 2,794,331.36
        Signature date(s)
        10/08/2007 : € 1,094,331.36
        10/08/2007 : € 1,700,000

        Summary sheet

        Release date
        23 April 2007
        Status
        Reference
        Under appraisal | 10/08/2007
        20070016
        Project name
        Promoter - financial intermediary
        Rural Impulse Microfinance Fund
        Incofin
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        Up to EUR 3 million (USD 3.5 million).
        Up to EUR 30 million (USD 36 million).
        Location
        Sector(s)
        Description
        Objectives

        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.

        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.

        Environmental aspects
        Procurement

        Investee companies to meet minimum environmental standards to be specified and monitored by the Manager of the holding company.

        Not applicable.

        Comments

        Microfinance sector.

        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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