$60 Million for SME Impact Investment Vehicle B in Africa
At least six development finance institutions are committing $60 million to the Bamboo-UNCDF Initiative for Least Developed Countries (BUILD). The vehicle will invest in impact projects led by small and medium-sized enterprises (SMEs).
A new mechanism will support impact investments by small and medium-sized enterprises (SMEs) in developing countries, many of which are in Africa. This is the Bamboo-UNCDF initiative for the least developed countries (BUILD), which was recently launched on the sidelines of the Finance for Development Forum in New York, United States of America. As the name suggests, it is an initiative of the United Nations Capital Development Fund (UNCDF) and Bamboo Capital Partners, a Luxembourg-based impact investment company.
The fund aims to attract concessional, semi-commercial, and commercial growth financing to early-stage companies, particularly in the agriculture, renewable energy, and financial inclusion sectors, with the ultimate goal of making progress toward the Development Goals (SDGs).
Photo courtesy of UN Women / Ryan Brown.