Lendable LMFCFII

active

The proposed project is an unsecured loan of up to US$50 million to the Lendable MSME FinTech Credit Fund II (LMFCF II or the Fund) of which IFC will invest US$40.6 million for its own account and US$9.4 million in its capacity as implementing partner of the Women’s Entrepreneurs Finance Initiative (“We-Fi”) and the Global SME Finance Facility (“GSMEF”) for on-lending to FinTechs in Africa, Asia, and Latin America that serve low-income individuals, MSMEs, and women-owned businesses (the Project). We-Fi and GSMEF will support the project through co-investments of up to US$4.4 million and US$5 million, respectively, with payment of interest and principal subordinated to IFC. Thirty percent of the Fund’s proceeds will support women-owned businesses (WMSMEs), and at least fifty percent of the total number of sub-loans from the FinTechs will be directed towards women borrowers. The Fund will be established for 7 years, including a 5-year investment period and a 2-year repayment period.