Dutch development bank FMO loans USD 10 million to microfinance organisation VisionFund International (VFI)
THE HAGUE, 13-Mar-2018 — /EuropaWire/ — FMO, the Dutch development bank, has provided a five-year loan of USD 10 million to VisionFund International (VFI), a global microfinance organisation. This transaction will benefit the end clients of VFI’s microfinance institutions (MFIs) in Africa and Asia, with a focus on MFIs based in fragile states and countries in which access to finance is limited. This transaction aligns with VisionFund’s aim to improve livelihoods of families in underserved and rural areas.
The investment is made through the MASSIF fund (“MASSIF”), which is managed by FMO on behalf of the Dutch government. MASSIF supports financial inclusion through its work with financial institutions, supporting them on their journey to empower women, young people and rural entrepreneurs in low income countries and fragile and conflict-affected states. MASSIF furthermore aims to stimulate financial innovation with a view to broadening access to finance.
This is the second senior loan between FMO and VFI. More recently, FMO further partnered with VFI by supporting its development of the Climate Insurance programme ARDIS, which benefits African and Asian Smallholder Farmers.
Mr. Michael Mithika, President and CEO of VisionFund International said: ”VisionFund has been improving the lives of children in the developing world for over ten years and funding is essential to helping us continue in this mission to serve the most vulnerable. FMO and the MASSIF fund align to our ethos as an organisation and this loan will be used to further the financial inclusion agenda in remote, rural communities where we know these interventions make the most difference.”
Mr. Jeroen Harteveld, Fund manager of MASSIF, commented: “MASSIF supports small businesses and micro-entrepreneurs in emerging markets by providing resources to financial intermediaries. VisionFund has built an impressive network of microfinance institutions across the globe focusing on high impact, often fragile markets in rural areas. The FMO financing is focused on providing longer-term financial access to these underserved communities thereby supporting poverty alleviation and job creation.”
FMO is the Dutch development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a more than 45-year proven track-record of empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With a committed portfolio of EUR 9.8 billion spanning over 92 countries, FMO is one of the larger bilateral private sector developments banks globally. For more information: please visit www.fmo.nl
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About VisionFund International
VisionFund International, World Vision’s microfinance arm, has been improving the lives of children in the developing world for more than a decade. By offering small loans and other financial services, its clients develop successful businesses, enabling their children to grow up healthy and educated. In 2016, VisionFund International MFIs provided 1.4 million loans, with nearly three-quarters of these going to women, and over half to clients actively involved in farming. Repayment rates were 98%. Also in 2016, 4.3 million children were impacted through its MFI network located across more than 30 countries in Africa, Latin America, Asia, and Eastern Europe.
For further information please visit: VisionFund.org
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