The borrower will on-lend to small and growing businesses in 11 African countries as well as provide business support to these entities. This Project is expected to have a highly developmental impact in Africa through the Fund’s issuance of credit to small- and medium-sized enterprises. African firms lack sufficiently available credit to meet their growth potential, particularly the firms that account for most jobs in the region. The Fund’s downstream borrowers will receive three- to eight-year loans that include flexible repayment and technical assistance regarding strategy, risk management, and operational efficiency. The Fund will incorporate a gender lens investment strategy to increase its lending to women owned/managed businesses, and these firms are expected to receive at least 37 percent of loans. The Fund’s focus is largely agribusiness, healthcare, and education, aligning the Project with U.N. Sustainable Development Goals including Zero Hunger (2), Good Health and Well-Being (3), Quality Education (4), Gender Equality (5), and Decent Work and Economic Growth (8).
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