MFP BOP SALAM

pending

The proposed project consists of a 3-year senior loan of up to US$2 million to be disbursed in Gambian Dalasi (GMD) comprising up to US$0.8 million for IFC’s Own Account (O/A) and a mobilization component of up to US$1.2 million to Salam Financial Services Limited (Salam or the MFI) formerly known as Supersonicz Financial Limited , the second largest microfinance institution (MFI) in The Gambia for on-lending to Micro, Small and Medium Enterprises (MSMEs), informal enterprises, and low-income households, with 50% dedicated to women-owned/led MSMEs (WMSMEs) (the Project).The Project will be processed under IFC’s MSME Finance Platform (the “Platform”). The Project will be supported by a pooled first loss guarantee (“PFLG”) of up to US$40 million provided by International Development Association’s Private Sector Window Blended Finance Facility (IDA-PSW BFF) allocated to the BOP Envelope under the MSME Finance Platform, as well as IDA-PSW Local Currency Facility (LCF) in the form of a cross-currency swap.