Since its inception in February 2009, MEF has enhanced access to financial services for hundreds of thousands of micro-entrepreneurs running productive small businesses by funding well-established microfinance institutions. The Fund was established to provide short and medium-term financing to microfinance institutions facing difficulties in securing funding as a result of the global financial crisis and, in particular, the 2008/2009 liquidity crisis. MEF’s objective is to ensure that microfinance stimulates sustainable development, creates jobs, and increases financial inclusion in emerging markets.
By the end of 2014, MEF had provided 180 loans to 87 MFIs in 36 developing countries. Those loans had then gone on to reach 457,976 borrowers with an average loan balance of USD 4,170. These 180 loans, in combination with the financing provided in the first half of 2015, have provided over USD 1 Billion in loans to microfinance institutions thanks to the MEF’s combination of public funding and private investors.