Economics / Finance. BlueOrchard is making a second close of its support fund against Covid-19 in the amount of 175 million مليون

Madrid, 28 (European Press)

BluOrchard has closed its second support fund against Covid-19, the BlueOrchard Covid-19 Emerging and Frontier Markets MSME Support Fund, in the amount of $207 million (€175 million).

In this second closing, BlueOrchard welcomed IDB Invest, part of the Inter-American Development Bank Group and the Visa Foundation as new investors, and some companies that are “improving their profile as a hybrid financing vehicle.”

Other investors include Schroders, the UK Development Finance Corporation (CDC), the US Development Finance Corporation (DFC), FSD Africa Investments, the Japan International Cooperation Agency (JICA), the German Development Bank KFW and the Swiss State Secretariat for Economics. .

The vehicle, which is not available for sale in Spain, was launched at the end of 2020 to support micro, small and medium-sized enterprises (MSMEs), which “form the backbone of economic growth and employment in developing countries”.

As of March, the fund has invested in 14 financial institutions in 13 countries in Africa, Asia, Eastern Europe and Latin America, supporting more than 26 million jobs, the director said in a statement.

“It is in times like these that decisive action and strong collaboration are needed to support those most in need. We are extremely grateful and proud of the trust placed in us by the investors who share our mission and goals,” said the General Manager. BlueOrchard, Maria Theresa Zappia.

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