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News 2 mins Read 25 Jun 2023 Brussels

EDFI MC Backs Proparco’s Investment in Microinvest, through EFSD+ EDFI MSME Platform

EDFI Management Company is supporting a €10 million investment of Proparco – subsidiary of the French Development Agency group dedicated to the private sector, in Microinvest, a leading microfinance provider in Moldova. This initiative marks the first successful leveraging of an EU guarantee under the new EFSD+ EDFI MSME Platform program. The Proparco’s investment will significantly bolster Microinvest’s ability to provide loans, particularly to women entrepreneurs, smallholder farmers, and rural populations.

EU Guarantee Unlocks Critical Funding

The initiative’s success is bolstered by a crucial 50% guarantee provided by the European Fund for Sustainable Development Plus (EFSD+). Managed by EDFI MC, this EU guarantee mitigates risk and allows Proparco to extend its reach in Moldova.

Empowering Vulnerable Sectors and Promoting Gender Equality

Proparco’s investment is expected to create significant positive impacts. Estimates suggest it will enable Microinvest to grant over 4,400 microloans and support more than 170 MSMEs. Furthermore, Proparco’s focus on gender equality is evident, with 45% of Microinvest’s clients and 59% of its employees being women.

This collaboration between the EU, EDFI MC, and Proparco serves as a powerful example of how international partnerships can drive positive change and promote sustainable development in Moldova.

About Proparco

Proparco is a subsidiary of the AFD Group focused on private sector development. It has been promoting sustainable economic, social and environmental development for over 45 years. 

Proparco provides funding and support to both businesses and financial institutions in Africa, Asia, Latin America and the Middle-East. Its action focuses on the key development sectors: infrastructure, mainly for renewable energies, agribusiness, financial institutions, health and education. Its operations aim to strengthen the contribution of private players to the achievement of the Sustainable Development Goals (SDGs) adopted by the international community in 2015. 

To this end, Proparco finances companies whose activity contributes to creating jobs and decent incomes, providing essential goods and services and combating climate change.

About EDFI Management Company:

EDFI Management Company (EDFI MC) is a multilaterally owned impact asset manager which delivers innovative development finance solutions that enable European DFIs, development banks and private sector investors to increase the scale and impact of their work. The company focuses on business models, technologies and geographies where other investors have not been able to operate at the desired scale given their resources and investment criteria.

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The EDFI MSME Platform, managed by EDFI Management Company, is a joint EDFI guarantee facility under the EU’s EFSD+ and open to EDFI-member pillar-assessed institutions. It is a risk-sharing mechanism to foster financing from European DFIs to local financial institutions. The final goal is to address financial constraints faced by MSMEs, supporting jobs, economic opportunities, skills and entrepreneurship.