The Multilateral Investment Fund (MIF), a member of the US-based IDB (Inter-American Development Bank) Group, has agreed to partner with Global Partnerships, a US-based nonprofit, to support microfinance institutions (MFIs) and cooperatives in offering health services and health education to low-income households in Ecuador, Haiti, Honduras and Nicaragua. The project is funded with a donation of a USD 1 million. It will be implemented over three years and is intended to benefit up to 75,000 low-income women and their families.
Since 1993, MIF reports having approved 1,600 projects in 19 countries, disbursing approximately USD 100 million per year in grants, equity and loans. As of June 2011, Global Partnerships had USD 36.2 million invested in 30 microfinance institutions that serve approximately 972,000 borrowers in eight Latin American countries.
By Mihaela Grindeanu, Research Associate
About the Multilateral Investment Fund (MIF): Multilateral Investment Fund (MIF) is an autonomous fund that was founded in 1993 by the US-based Inter-American Development Bank (IDB). Now a member of the IDB Group, MIF has 39 donating member countries from the Americas, Europe and Asia. From inception through 2012, MIF reports having approved 1,600 projects in 19 countries, disbursing approximately USD 100 million per year in grants, equity and loans.
About Global Partnerships: Established in 1994, Global Partnerships is a US-based nonprofit organization that supports microfinance institutions in Latin America via a microfinance investment fund strategy. The company has staff based in Seattle, Washington, and Managua, Nicaragua. As of June 2011, Global Partnerships had USD 36.2 million invested in 30 microfinance institutions that serve approximately 972,000 borrowers in eight Latin American countries. It has three active microfinance investment vehicles (MIVs): Global Partnerships Microfinance Fund 2006 (MFF 2006), Global Partnerships Microfinance Fund 2008 (MFF 2008) and Global Partnerships Social Investment Fund 2010 (SIF 2010).
Sources and Additional Resources:
Information submitted by Inter-American Development Bank to MicroCapital
MicroCapital Story, September 19, 2012: “MICROFINANCE EVENT: Multilateral Investment Fund (MIF) to Host 15 th Annual Inter-American MicroEnterprise Forum (Foromic), Bridgetown, Barbados, October 1-3, 2012”, https://www.microcapital.org/microfinance-event-multilateral-investment-fund-mif-to-host-15-th-annual-inter-american-microenterprise-forum-foromic-bridgetown-barbados-october-1-3-2012/
MicroCapital Story, August 27, 2012: “MICROCAPITAL BRIEF: “Inter-American Development Bank Loans $10m to Central Bank of Ecuador To Support Financial Inclusion”, https://www.microcapital.org/microcapital-brief-inter-american-development-bank-loans-10m-to-central-bank-of-ecuador-to-support-financial-inclusion/
MicroCapital Story, November 30, 2011: “MICROCAPITAL BRIEF: Global Partnerships, Linked Foundation, Fonkoze Support Women’s Health in Haiti”, https://www.microcapital.org/microcapital-brief-global-partnerships-linked-foundation-fonkoze-support-women%E2%80%99s-health-in-haiti/
MicroCapital Universe Profile: Multilateral Investment Fund, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Multilateral+Investment+Fund+%28MIF%29
MicroCapital Universe Profile: Global Partnerships, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Global+Partnerships
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