The portfolio will invest in small and medium enterprises and through microfinance in themes such as climate and energy, education and healthcare.
Symbiotics Capacity Building Deploys for REGMIFA TA Facility a SME Finance Project in “Compact With Africa” Countries With Funding From KfW
It has gathered over $18 million in donor funding for deploying over 140 technical assistance projects, ranging from governance, product development, sustainability, social performance, digital financial services, green energy and agriculture finance.
The proceeds of this Social Bond are to be allocated towards both micro loans up to $10,000 to microenterprises and SME loans up to $1 million to small and medium enterprises.
The issuance of this Social Bond emphasizes another step in Cacpeco’s social journey that started in 1988 in Latacunga, Cotopaxi, Ecuador.
Greenlight Planet will use the proceeds of the Green Bond to finance supplier advances, inventory and customer lease structures for pay-as-you-go solar home systems.
ACBA has committed to use the proceeds of the Sustainability Bond for both social and green projects, in line with the ICMA Sustainability Bond Principles.
Research finds that the Symbiotics portfolio is recovering from the crisis stemming from the pandemic and its partners from the Caucasus region are following a similar trend, but at a slower pace.
The proceeds will be used to fund solely green projects: renewable energy (C&I solar, roof-top solar), hydro power, and biomass energy.
Global Microfinance Recovery Continues, Especially in Africa, but Pandemic’s Long-term Impact Remains Uncertain
Microfinance institutions (MFIs) are starting to recover, particularly in Africa, and some have managed the crisis better than expected so far. However, the recovery remains fragile.