What are the challenges of microfinance institutions

Financial system development

Aavishkaar Frontier Fund (AFF)
Promotes: Equity for Social Enterprises Target region: Asia, including Bangladesh, Indonesia, Pakistan and Sri Lanka
Website: www.aavishkaar.inAfrica Agriculture and Trade Investment Fund (AATIF)
Promotes: Financial services and access to markets for businesses and smallholders in rural areas of Africa Target region: Sub-Saharan Africa
Founded: 2011
Website: www.aatif.luAfricaGrow
Promotes as a fund of funds: Equity and venture capital funds that finance small and medium-sized enterprises (SMEs) and startupsTarget region: Africa
Founded: 2019
Website: /African Local Currency Bond Fund (ALCB Fund)
Promotes: Strengthening and developing local bond marketsTarget region: Africa
Founded: 2012
Website: www.alcbfund.comAfricinvest Financial Sector Fund limited LLC (AFS)
Funds: Financing of micro, small and medium-sized enterprises Target region: Africa, focus on sub-Saharan Africa
Founded: 2007
Website: www.africinvest.com/portfolio/companies (fund manager)Azur Innovation Fund (AIF)
Funds: Equity financing for start-ups and micro, small and medium-sized enterprisesTarget region: Morocco
Founded: 2019
Website: /CRAFT (Climate Resilience & Adaptation Finance and Technology Facility of Lightsmith Climate Resilience Partners SCSP)
Funds: Adaptation to climate change and climate resistance solutions through the financial sectorTarget region: Asia, Africa, Central and Latin America Founded: 2019
Website: www.climatefinancelab.org/project/climate-resilience-adaptation-financetransfer-facility-craft/; https://lightsmithgp.com/craft/DWM Inclusive Finance Equity Fund (sub-fund of DWM Funds S.C.A)
Funds: microfinance institutionsTarget region: Latin America, Asia
Founded: 2013
Website: www.dwmarkets.com (fund manager)eco.business fund
Funds: Investments relevant to nature conservation by small and medium-sized enterprises for the preservation of biodiversity in ecologically significant natural landscapesTarget region: Latin America and the Caribbean, Africa
Founded: 2014
Website: www.ecobusiness.fundEncourage Solar Finance
Funds: The financing of roof solar systems for micro, small and medium-sized companiesTarget region: India
Founded: 2019
Website: http://encouragecapital.comEnterprise Innovation Fund (ENIF)
Promotes: fast-growing and innovative companiesTarget region: Southeast Europe
Founded: 2015
Website: www.wbedif.eu/about-wb-edif/enterprise-innovation-fund-enif/ European Fund for Southeast Europe (EFSE)
Funds: Lending to micro and small businesses as well as private households for home renovation measures through local financial institutionsTarget region: Southeast Europe, Turkey, Eastern Europ. Neighborhood region
Founded: 2005
Website: www.efse.lu FEI-OGEF (Facility for Energy Inclusion - Offgrid Energy Access Debt Fund) - Citizen Energy Fund
Funds: Improved energy access through consumer and corporate financing for off-grid solar companies and related "ecosystems"Target region: Africa
Founded: 2018
Website: www.ogefafrica.comFEI (Facility for Energy Inclusion) - Citizen Energy Fund
Funds: Improved energy access through flexible project and corporate financing for renewable energy off-grid projects (<25 MW, especially large mini-grids and own use)Target region: Africa
Founded: 2019
Website: www.feiafrica.com/Fairtrade Access Fund
Funds: Financing and advice for cooperatives / associations of small farmers and agricultural workersTarget region: Latin America, Africa, and in future Asia as well
Founded: 2012
Website: http://incofinfaf.com/#missionGlobal Climate Partnership Fund (GCPF)
Funds: Financing of investments in renewable energies and energy efficiency mainly through the financial sectorTarget region: developing and emerging countries
Founded: 2009
Website: www.gcpf.luGlobal Health Investment Fund II (GHIF II)
Promotes: Development of health products to combat poverty-related diseases and improve reproductive health and mother-child healthTarget region: developing and emerging countries
Founded: 2013
Website: www.ghif.comGoodwell West Africa Microfinance Development Company
Funds: microfinance institutionsTarget region: Nigeria and Ghana
Founded: 2009
Website: www.goodwell.nl (fund manager)Green for Growth Fund (GGF)
Promotes: energy efficiency and renewable energyTarget region: Southeast Europe, Turkey, North Africa, Middle and Middle East
Founded: 2009
Website: www.ggf.luGrofin SGB Fund
Funds: newly founded and high-growth small and medium-sized enterprises (SMEs)Target region: Sub-Saharan Africa
Founded: 2015
Website: www.grofin.com (fund manager)Higher Education Finance Fund (HEFF)
Funds: Education loans to talented young people from low-income groups through microfinance institutionsTarget region: Pilot countries in Latin America: Bolivia, Costa Rica, Peru, Dominican Republic, Guatemala, Honduras, Paraguay
Founded: 2011
Website: www.heff-education.comIHS Fund II SA feeder
Funds: Energy-efficient housing constructionTarget region: South Africa
Founded: 2013
Website: www.ihsinvestments.co.za/fundsIHS Fund SSA
Funds: Energy-efficient housing constructionTarget region: Namibia
Founded: 2014
Website: www.ihsinvestments.co.za/fundsInfrastructure Crisis Facility (ICF) Debt Pool
Funds: private infrastructure investmentsTarget region: developing and emerging countries
Founded: 2009
Website: http://cordiantcap.com/investment-program/icf-debt-pool/ (fund manager)InsuResilience Investment Fund (IIF)
Funds: Insurance and reinsurance that cover climate risksTarget region: developing countries
Founded: 2015
Website: www.insuresilienceinvestment.fundInvesting for Employment (IFE) GmbH (Investment for employment)
Promotes: investments that create jobs; Preservation of jobs in private companies during the corona crisisTarget region: Egypt, Ethiopia, Côte d´Ivoire, Ghana, Morocco, Rwanda, Senegal and Tunisia
Founded: 2020
Website: https://invest-for-jobs.com/en/ife#topJAIDA
Funds: microfinance institutionsTarget region: Morocco
Founded: 2007
Website: www.microfinance.maLatin American Green Bond Fund (LA GREEN)
Funds: anchor investments in selected green bonds that finance climate-friendly projectsTarget region: the Caribbean and Latin America
Founded: 2019
Website: /LeapFrog Financial Inclusion Fund II
Microinsurance for the poor (life, health, natural disaster, crop failure insurance)Target region: Asia, Sub-Saharan Africa, Latin America
Founded: 2009
Website: www.leapfroginvest.com Lending for African Farming (LAFCo)
Promotes: Working capital (net current assets) of small and medium-sized agricultural companies - Promotes local value chains and increases food productionTarget region: Africa
Founded: 2015
Website: www.lendingforafricanfarming.comMicrofinance Enhancement Facility (MEF)
Funds: microfinance institutionsTarget region: developing countries
Founded in 2009
Website: www.mef-fund.comMicrofinance Initiative for Asia (MIFA Debt Fund)
Funds: Refinancing of microfinance institutions, part of the fund: Financing of domestic energy efficiency systems via microfinance institutionsTarget region: Asia
Founded: 2012
Website: www.blueorchard.com/investment-solutions/customized-mandates/mifa (fund manager)Natural Disaster Fund (Global Parametrics) Germany
Funds: Insurance against climate risks (weather derivatives)Target region: All developing countries
Founded: 2018
Website: www.globalparametrics.com/natural-disaster-fund/Nomou Jordan Fund
Promotes: Small growing companies and start-upsTarget region: Jordan
Founded: 2013
Website: https://nomou-mena.com/about_nomou-mena/#about_nomou_section6Omnivore Partners India Fund 2
Funds: Investments in startup agro-food companiesTarget region: India
Founded: 2018
Website: www.omnivore.vcPME Croissance (PMEC), Morocco
Funds: Financing of small and medium-sized enterprisesTarget region: Morocco
Founded: 2012
Website: www.africinvest.com/portfolio/companies(Fondsmanager)Progression Eastern Africa Microfinance Equity Funds (PEAMEF)
Funds: microfinance institutionsTarget region: East Africa
Founded: 2011
Website: www.progressioncapitalafrica.com (fund manager)Regional Education Finance Fund for Africa (REFFA)
Funds: Education loans through local financial institutionsTarget region: Africa
Founded: 2012
Website: www.reffa.orgRegional investment fund for micro, small and medium-sized enterprises in Africa (REGMIFA)
Financial services for micro, small and medium-sized enterprises via microfinance institutionsTarget region: Sub-Saharan Africa
Founded: 2010
Website: www.regmifa.com responsAbility Participations AG
Funds: Long-term participation in more advanced microfinance institutions and "small business banks"Target region: developing and emerging countries
Founded: 2012
Website: www.responsability.com (fund manager)responsAbility Renewable Energy Holding (rAREH)
Funds: Investments in renewable energies and energy efficiency (4E)Target region: Sub-Saharan Africa
Founded: 2013
Website: www.renewable-energy.investments/portrait.htmlRural Impulse Fund II
Financial services in rural areas through the refinancing of microfinance institutionsTarget region: developing countries
Founded: 2010
Website: www.incofin.com/en/fund/rural-impulse-fund-ii (fund manager)SANAD
Financial services for micro, small and medium-sized enterprises (MSMEs) - employment promotion especially for young people (SANAD: Arabic word for support)Target region: North Africa and the Middle East
Founded in 2011
Website: www.sanad.luSarva Capital LLC (formerly Lok Capital Microfinance Fund II)
Funds: microfinance institutions, health, educationTarget region: India
Founded: 2010
Website: http://www.lokcapital.com/about/venture-capital-funds/ (fund manager)ShoreCap II Limited
Funds: Microfinance Institutions and Small Business Financing through Financial InstitutionsTarget region: Africa and Asia
Founded: 2009
Website: www.equatorcap.net/about (fund manager)ShoreCap III LP
Funds: financial institutions (microfinance, fintech, housing finance, insurance, leasing)Target region: Africa
Founded: 2017
Website: www.equatorcap.net/about (fund manager)Sustainable Ocean Fund (SOF)
Funds: small and medium-sized companies in the fields of sustainable fishing, aquaculture, circular economy, marine protection and sustainable marine managementTarget region: the Caribbean
Founded: 2018
Website: https://althelia.com/sustainable-ocean-fund/The Currency Exchange Fund N.V. (TCX)
Promotes: Currency hedging in "exotic" currencies, e.g. for energy investments in AfricaTarget region: developing countries
Founded: 2009
Website: www.tcxfund.comTunInvest Croissance / SME Equity Fund Tunisia
Funds: Financial Institutions / Financial Services for Small and Medium-Sized Enterprises (SMEs)Target region: Tunisia
Founded: 2013
Website: www.africinvest.com/portfolio/companies/(Fondsmanager)Women's World Banking Capital Partners, L.P. Find
Funds: microfinance institutions for womenTarget region: developing countries
Founded: 2012
Website: www.womensworldbanking.org
(Fund manager)