The project will support the creation of the Grassroots Impact First Investment Fund, which have the purpose of making equity, equity-like and debt investments in microfinance institutions (MFIs) with a clear social priority. The Fund will support financially sustainable MFIs that prioritize improvement in client welfare over maximizing financial returns. It will provide support through investments and technical assistance to enable MFIs to scale and expand their positive impact on clients.
Project Detail
Country
Regional
Project Number
RG-Q0021
Approval Date
December 17, 2014
Project Status
Cancelled
Project Type
Equity
Sector
FINANCIAL MARKETS
Subsector
FINANCIAL INCLUSION
Lending Instrument
Multilateral Investment Fund Instrument
Lending Instrument Code
MIF
Modality
-
Facility Type
-
Environmental and Social Impact Category (ESIC)
-
Total Cost
USD 30,000,000.00
Country Counterpart Financing
USD 28,000,000.00
Original Amount Approved
USD 2,000,000.00