July 17, 2020
'Impact rescue facility' targets $1bn for SMEs hard-hit by Covid-19
By Michael Hurley, Environmental Finance
A 'liquidity lifeboat' debt vehicle has been launched to help small- and medium-sized enterprises (SMEs) in emerging markets respond to the effects of the coronavirus pandemic.
The Impact Rescue Facility has been designed to provide debt financing of up to about $10 million to impact investor portfolio companies in Sub-Saharan Africa, Latin America and South-East Asia.
The facility seeks to raise about $1 billion, to meet the need for liquidity among SMEs in these markets, according to its creators.
The project is the result of a collaboration between US-based impact investor Calvert Impact Capital, the UN SDG Lab and the Ground_Up Project, a Switzerland-based start-up created in 2014 to 'source' impact ventures looking for funding under $20 million.
Read the article here: https://www.environmental-finance.com/content/news/impact-rescue-facility-targets-$1bn-for-smes-hard-hit-by-covid-19.html