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 up to US$1.2 million to be mobilized from other parallel lenders, 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 IDA21-PSW Local Currency Facility (IDA21-PSW LCF) in the form of a cross-currency swap.