FINCA Malawi Receives Initial Disbursement of a $1.5 Million Loan Facility From the Belgian Investment Company for Developing Countries
FINCA Malawi, FINCA Impact Finance’s (FIF) microfinance subsidiary in Malawi, received the first tranche of a $1.5 million USD loan facility with a four-year tenor from the Belgian Investment Company for Developing Countries (BIO).
Through a network of 23 branches and 63 active agents across the country, FINCA Malawi – a licensed Deposit Taking Microfinance Institution headquartered in Blantyre – serves more than 70,000 clients. FINCA Malawi offers individual loans, group loans, savings and insurance products specifically designed for low-income entrepreneurs.
As the first transaction between FIF and BIO, and the first finalized during the global pandemic, this loan facility will provide general on-lending to FINCA Malawi clients.