European DFIs and EIB launch EUR 280 million financing initiative to support Covid-19 impacted businesses
EIB and EDFI members expand existing - European Financing Partners (EFP) - financing scheme to reduce the economic impact of the Covid-19 pandemic on private sector companies in developing countries.
EDFI group outlines shared commitments to phase out fossil fuels and mobilise private sector climate finance, aligning with Paris Agreement and high disclosure standards.
EDFI AgriFI and BIO each commit to finance the equivalent of EUR 3 million in USD to reinforce Alterfin’s sustainable agriculture and microfinance portfolios. The combined investment will provide Alterfin with long-term financing to support its expansion in Africa, Latin-America and Asia. The financing from BIO will likely also be accompanied by technical assistance, a first for Alterfin.
The Belgian Investment Company for Developing Countries recently
began disbursing funds as part of a four-year loan of USD 1.5 million to
FINCA Malawi, a microfinance institution (MFI) owned by the US-based
firm FINCA Impact Finance.
Business continuity planning is a component of building business resilience in normal times and is especially critical in cases of large disasters. For businesses to survive, they must be able to adapt their operations to the new environment.
BIO, the Belgian Investment Company for Developing Countries, will provide emergency financing to its portfolio companies to support their continuity in times of the covid pandemic.
Financial return is worth twice as much if it also helps the world move forward. The Belgian government and business world collect 50 million euros for sustainable investments in the African and Asian private sector. "Investing is better than giving," says driving force Alexander De Croo, Minister of Development Cooperation. "You will only see a return on your investment if it has really made a difference."