Reference:
20110364
Release date: 4 October 2011
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