IFC and the German development agency KfW launched this initiative to support microfinance institutions, which play a vital role in the fight against poverty.
IFC and KfW invested $150 million and $130 million, respectively, to help fundamentally sound microfinance institutions facing severe credit constraints in the wake of the financial crisis.
The goal of the Microfinance Enhancement Facility is to provide refinancing to more than 100 microfinance institutions in as many as 40 countries and to support lending to as many as 60 million low-income borrowers.
The investments helped mobilize funds from other partners, including the European Investment Bank, the OPEC Fund for International Development, and development agencies from Austria, Germany, the Netherlands, and Sweden
For more information on the facility,
e-mail mef@ifc.org.
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Last Updated: 11 Nov 2010 |
