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:
The International Finance Corporation:
Medical Credit Fund:
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.