Deutsche Bank secures additional USD 12 million of private sector investments in microfinance fund
Deutsche Bank has successfully secured additional USD 12 million financing from private sector investors for the Microfinance Enhancement Facility (MEF). This will enable MEF to grant up to 3,300 additional loans to micro and small enterprises worldwide.
Established as initiative of the German Federal Ministry for Economic Cooperation and Development, KfW Development Bank and International Finance Cooperation, MEF provides funding to microfinance institutions worldwide. Since it’s inception in February 2009, MEF has financed a total of over 227,000 loans for an aggregate value of USD 821 million. The fund has focused on micro financing trade, services and agriculture activities of micro- and small enterprises in emerging and developing countries.
By funding well-established microfinance institutions, MEF enhances access to financial services for micro-entrepreneurs. The Fund’s objective is to ensure that microfinancing stimulates sustainable development, creates jobs and increases financial inclusion in emerging markets. The privately managed fund is set up as a public-private partnership and has currently USD 591 million in outstanding commitments.
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Deutsche Bank AG
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