OPIC Achieves $1 billion in Global Microfinance Support
March 23, 2016
(OPIC)
WASHINGTON – The Overseas Private Investment
Corporation (OPIC), the U.S. Government’s
development finance institution, today
announced that the agency has surpassed $1
billion in financing support to global
microfinance institutions, lenders and
frameworks since 2010. OPIC provides financing
to microfinance institutions through
investments in microfinance vehicles, targeted
credit facilities to individual microfinance
institutions (MFIs), risk-sharing agreements,
and guaranties supporting innovative industry
efforts. OPIC’s financing has supported more
than 100 microfinance institutions in more than
30 countries.
“Reaching the $1 billion mark in microfinance
support is a proud moment for OPIC as an
agency,” said Elizabeth Littlefield, OPIC’s
President and CEO. “As a small organization, we
are always seeking innovative ways to more
directly spark bottom-up economic growth in
developing regions. This new capital invested
in these markets has impact far beyond its face
value.”
OPIC, which last week committed $125 million in
financing to ACLEDA Bank Plc to support
microfinance and small enterprise loans in
Cambodia, also supports lending to a range of
MFIs working across Africa, Asia, Eastern
Europe, and Latin America and the Caribbean.
These institutions provide loans ranging from
as little as a hundred to several thousand
dollars. Collectively, OPIC’s support has
provided access to finance to millions of
people, allowing them to grow their businesses,
increase productivity and better support their
families.
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