The International Finance Corporation (IFC), a member of the US-based World Bank Group, recently announced it will invest USD 4.5 million in the Medical Credit Fund (MCF), a unit of the Dutch nonprofit PharmAccess Group, to finance small and medium-sized enterprises (SMEs) that provide healthcare services in Africa.
MCF has raised USD 40 million as of 2017. In addition to investing in healthcare SMEs in Africa, PharmAccess has created a training program intended to enhance the business and clinical outcomes of these companies.
IFC offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2016, IFC has 184 member countries and total assets of USD 90.4 billion.
By Sascha Strobl, Research Associate
Sources and Additional Resources:
IFC press release:
http://ifcextapps.ifc.org/IFCExt/pressroom/IFCPressRoom.nsf/0-/4BCCE4F0FF00688B8525813D002FA877
The International Finance Corporation:
http://www.ifc.org/
Medical Credit Fund:
http://www.medicalcreditfund.org
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
Similar Posts:
- MICROCAPITAL BRIEF: Joliba Capital Raises $58m in Equity from FMO, IFC, Proparco to Support SMEs, Mid-caps in Central, West Africa
- MICROCAPITAL BRIEF: Invest International Places $11m in Equity Fund uMunthu II to Support Rapidly Expanding SMEs in Africa
- MICROCAPITAL BRIEF: AfDB, Ingenosya Create Mada Business Linkage Online Portal to Boost SME Success in Madagascar
- MICROCAPITAL BRIEF: Bank of Africa, Sanad Fund Deploying $27m for SME Finance in Morocco
- MICROCAPITAL BRIEF: Credit Café Africa, Sterling Bank Partner on $22m in Loans for Providers of Health, Education in Nigeria