On October 4, 2016 Symbiotics announced the successful closing of the SME Finance – Loans for Growth Fund. According to a press release, it is “a fully subscribed USD 50 million investment product offered by UBS to its impact investor base. The 4-year closed-end structure aims to provide loans to SME finance institutions in emerging and frontier markets. It thereby promotes entrepreneurship, job creation and inclusive economic growth while offering an attractive financial return to investors. The structure also benefits from a 10% (USD 5 million) first loss risk protection co-funded equally by UBS and the Swiss State Secretariat for Economic Affairs (SECO), putting forward an attractive and replicable public-private partnership model to attract private sector capital towards sustainable development goals.”
You can read the press release (in English, French and German) on the news page of the Symbiotics internet site.