“IFU and Symbiotics provide USD 22.5 million in financing to develop financial inclusion in Africa through a multi-currency bond” – Symbiotics – April 27, 2021

In a press release distributed on April 27, 2021 Symbiotics reported that the “Investment Fund for Developing Countries (IFU) established by the Danish Government has partnered with Symbiotics to provide debt financing to between 15 and 20 financial institutions in Africa through a multi-currency impact bond. The main impact objective of this investment is to foster development in Africa through employment and income creation. The debt can be provided in several local currencies.

The bond will finance loans to businesses and households via selected financial institutions in Africa. It will be issued by Micro, Small & Medium Enterprises Bonds S.A., a bond issuance program sponsored by Symbiotics.

IFU has selected Symbiotics because of its experience in impact debt finance in emerging markets. The bond meets the stringent social and environmental criteria that IFU applies to all its investments.

The bond will be listed on the Securities Official List of the Luxembourg Stock Exchange and can include several different local currencies as well as senior and subordinated debt.”

You may read the press release on the news page of the Symbiotics internet site.