OPIC Achieves $1 billion in Global Microfinance Support
March 23, 2016
(OPIC)
WASHINGTON – The Overseas Private Investment Corporation (OPIC), the U.S.
Government’s development finance institution, today announced that the agency
has surpassed $1 billion in financing support to global microfinance
institutions, lenders and frameworks since 2010. OPIC provides financing to
microfinance institutions through investments in microfinance vehicles, targeted
credit facilities to individual microfinance institutions (MFIs), risk-sharing
agreements, and guaranties supporting innovative industry efforts. OPIC’s
financing has supported more than 100 microfinance institutions in more than 30
countries.
“Reaching the $1 billion mark in microfinance support is a proud moment for OPIC
as an agency,” said Elizabeth Littlefield, OPIC’s President and CEO. “As a small
organization, we are always seeking innovative ways to more directly spark
bottom-up economic growth in developing regions. This new capital invested in
these markets has impact far beyond its face value.”
OPIC, which last week committed $125 million in financing to ACLEDA Bank Plc to
support microfinance and small enterprise loans in Cambodia, also supports
lending to a range of MFIs working across Africa, Asia, Eastern Europe, and
Latin America and the Caribbean. These institutions provide loans ranging from
as little as a hundred to several thousand dollars. Collectively, OPIC’s support
has provided access to finance to millions of people, allowing them to grow
their businesses, increase productivity and better support their families.
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