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Deutsche Adds $75 Million In Private Investments To Microfinancing Fund
Sandra Kilhof
23 December 2013
Frankfurt-headquartered has successfully secured $75 million in
private financing from institutional investors for the Microfinance Enhancement
Facility. This will enable MEF to grant up to 75.000 additional loans to micro
and small enterprises worldwide. Established by the German Federal Ministry for Economic
Cooperation and Development, KfW Developmentbank and International Finance
Corporation, a member of the World Bank Group, the facility provides funding to
microfinance institutions worldwide. Since its inception in February 2009, the facility has
financed more than 197,000 loans at a value of $604 million (as at 30 September
2013), financing mainly trade, services and agriculture activities of micro and
small enterprises in emerging and developing countries. The $75 million secured by Deutsche, brings the fund to $544
million in outstanding commitments including $469 million from public investors
and development finance institutions.