Release date: 11 June 2009
Promoter – Financial Intermediary
LFS Financial Systems GmbH
Location
Description
AccessHolding is a microfinance investment holding company incorporated in Berlin (Germany) in August 2006 as a Joint Stock Company. AccessHolding now aims to build a network of approximately 15 small business banks worldwide concentrating on low-income countries. The Holding’s investment objective is to achieve a commercially acceptable return in the microfinance area through the deployment of equity or convertible debt to new or promising early-stage microfinance institutions (“MFIs”) with high social value added.
Objectives
This operation aims to meet the objectives of the Cotonou Agreement for the eradication of poverty by supporting the improvement in the quality, availability and accessibility of financial services and the development of modern financial institutions and sustainable microfinance operations. Furthermore, the proposed participation in the capital call of AccessHolding is in line with the IF’s strategy. The strategic objectives that will be achieved through this operation are:
- Creation of new Greenfield investments in Africa, one of our target countries;
- Support of the private sector, both directly and indirectly, by investing through AccessHolding fund in existing early-stage MFIs or by participating in Greenfield ventures;
- Provision of credit to micro and small enterprises through MFIs created by AccessHolding.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 2 million.
Total cost (Approximate amount)
EUR 33 million.
Environmental aspects
Investment Managers have in place Environmental and Social Management Systems for the evaluation of final beneficiaries accepted by the Bank.
Procurement
Not applicable.
Status
Under appraisal - 11/06/2009
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).