OPIC and Deutsche Bank announce fund supporting microfinance and Smart Campaign principles
OPIC, along with Deutsche Bank, announced its commitment to the $100 million Global Commercial Microfinance Consortium II (“Consortium II”), a fund supporting the growth of microfinance institutions that pursue a high level of client care, transparency of operations and pricing as well as product innovation.
The fund is a partnership with investors, including OPIC, who share a focus on responsible microfinance in order to help stabilize and improve the lives of the underbanked. In addition to loan capital, the fund borrowers have access to technical assistance to improve customer service and achieve Smart Campaign certification for the Microfinance Client Protection Principles, which aims to embed client protection practices into the institutional culture and operations of the microfinance industry.
The goal of the fund is to encourage and facilitate a renewed focus on client service and product innovation in microfinance, while continuing to develop the field of social investing. To learn more about the fund, click here to read a press release or here to view a video explanation of how the fund will help improve the lives of borrowers.