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Impact investing opens the way for a new generation of microfinance institutions in Latin America and the Caribbean

Feb 25, 2015

The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, has recently approved a US$2 million private equity investment and a US$100,000 technical cooperation grant for a project with Grassroots Capital Management that will establish the Grassroots Impact First Investments in Latin America fund, which will invest in 10 Latin American and Caribbean microfinance institutions with social missions.

The Grassroots Impact First Investments in Latin America (GIFI-LAC) fund will have a unique investment approach that prioritize impact , seeking to achieve moderate financial returns while maximizing social impact.
 
GIFI-LAC will help microfinance institutions increase their social impact by establishing well-defined missions, implementing responsible pricing and client management practices, expanding social programs, and adopting social performance management systems.
 
More than 200,000 poor and low-income individuals, clients of these institutions, will benefit from increased access to financial products and other vital services such as healthcare, education, affordable housing, and technical assistance.

Microfinance is regarded as an iconic example of “impact investing,” a growing investing trend promoting business models that achieve both financial and social outcomes.


About the MIF

The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, is funded by 39 donors and supports private sector-led development benefiting low-income populations and the poor—their businesses, their farms, and their households. The aim is to give them tools to boost their incomes: access to markets and the skills to compete in those markets, access to finance, and access to basic services, including green technology. A core MIF mission is to act as a development laboratory—experimenting, pioneering, and taking risks to build and support successful micro, small and medium business models. More information can be found at www.fomin.org.

About Grassroots Capital Management

Grassroots Capital Management (GCM) is an impact investment fund manager based in the U.S. Its mission is to help eliminate poverty and strengthen communities through investments in small and micro businesses, affordable housing, sustainable agriculture and affordable education, both in developing countries and in the U.S.  More information can be found at www.grassrootscap.com/
 
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