We are excited to see microfinance investment infrastructure providing the launch pad for innovations into new sectors.
Deutsche Bank Americas announced a USD 20 mn commitment through 2013 to the Eye Fund I, partnering with the International Agency for the Prevention of Blindness (IAPB), a coordinating, umbrella organization to lead international blindness prevention activities, and Ashoka, a global organization of social entrepreneurs. The Eye Fund I will finance the scaling-up of sustainable eye care hospitals in developing countries innovatively using a market approach to reduce the incidence of blindness among the world’s poor. Much like the microfinance industry, Eye Fund I will provide loans and guarantees to support the development of an affordable eye care industry. There will also be a complementary grant fund that will provide technical assistance, business planning and training to eye care organizations so that they become financially self-sustaining while fulfilling the mission of providing eye care to all. This is the first time that the eye care hospital industry is assuming debt in an organized way.
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