The primary objective of Gateway is to mobilize a critical mass of resources to facilitate the transformation of microfinance institutions "MFIs" into formal financial intermediaries (Bank or Non-bank). These transformations make it possible for microfinance institutions to expand the depth and range of the microfinance services they provide, accessing local capital markets and mobilizing savings. The formation of a special purpose investment fund provides great flexibility in designing and executing the financial instruments that Gateway will use to achieve its objectives. A key component of the Fund's success will be the ability to have formal participation on the MFIs Boards, thereby participating in strengthening governance.
Project Detail
Country
Regional
Project Number
TC9702136
Approval Date
May 6, 1998
Project Status
Closed
Project Type
Technical Cooperation
Sector
PRIVATE FIRMS AND SME DEVELOPMENT
Subsector
PRIVATE FIRMS AND SME DEVELOPMENT
Lending Instrument
Multilateral Investment Fund Instrument
Lending Instrument Code
MIF
Modality
-
Facility Type
-
Environmental and Social Impact Category (ESIC)
-
Total Cost
USD 400,000.00
Country Counterpart Financing
USD 200,000.00
Original Amount Approved
USD 200,000.00