The Multilateral Investment Fund (MIF), an investment fund administered by the US-based Inter-American Development Bank (IDB), recently loaned USD 3 million to the Fondo de Capital Privado Inversor (FCPI), a Colombia-based venture capital fund. The investment is one tranche of USD 20 million that FCPI plans to raise to support approximately 15 small and medium-sized enterprises (SMEs) that address the needs of low-income households in Colombia. FCPI will select the SMEs based on their social and environmental performance as measured by the Impact Reporting and Investment Standards (IRIS), a project within the Global Impact Investing Network (GIIN), a nonprofit organization dedicated to increasing the effectiveness of impact investing with the aim to solve social and environmental challenges while generating financial profit. Financial information on FCPI is not available.
By Jacqueline Foelster, Research Associate
About Multilateral Investment Fund (MIF): The Multilateral Investment Fund is an autonomous fund that was founded in 1993 by the Inter-American Development Bank (IDB). MIF has 38 donating member countries from Latin America, the Caribbean, North America, Europe and Asia. The United States and Japan play leading roles in the organization.
About Impact Reporting and Investment Standards (IRIS): Impact Reporting and Investment Standards (IRIS) was founded by the Rockefeller Foundation, Acumen Fund and B Lab in 2009 in an effort to create a common framework for defining, tracking and reporting the performance of “impact capital” – for-profit investment intended to solve social and environmental problems. This framework “forms a basis for enabling infrastructure and leads to transparency and credibility.” IRIS is a project within the Global Impact Investing Network (GIIN), a nonprofit organization dedicated to increasing the effectiveness of impact investing.
Source and Additional Resources:
[1] Inter-American Development Bank, “MIF Supports Colombian Fund Fondo de Capital Privado Inversor”, http://www.iadb.org/en/news/news-releases/2011-05-11/colombian-fund-fondo-de-capital-privado-inversor,9364.html
MicroCapital.org Brief, March 23, 2011, “Multilateral Investment Fund (MIF) Forecasts Remittances Will Rise in Latin America, Caribbean”, https://www.microcapital.org/microcapital-brief-multilateral-investment-fund-mif-forecasts-remittances-will-rise-in-latin-america-caribbean/
MicroCapital.org Brief, January 12, 2011, “Multilateral Investment Fund (MIF) and Social Entrepreneurship Program (PES) of Inter-American Development Bank (IDB) Make $3.6m Debt Investment in Cooperativa Mixta Mujeres Unidas Limitada (COMIXMUL) of Honduras, Fondo de Desarrollo Comunal (FONDECO) of Bolivia, Fundacion de Apoyo Comunitario y Social del Ecuador (FACES), Alternativa Solidaria Chiapas (ALSOL) of Mexico”, https://www.microcapital.org/microcapital-brief-multilateral-investment-fund-mif-and-social-entrepreneurship-program-pes-of-inter-american-development-bank-idb-make-3-6m-debt-investment-in-cooperativa-mixta-mujeres-unidas/
MicroCapital Universe Profile: Multilateral Investment Fund (MIF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Multilateral+Investment+Fund+%28MIF%29
MicroCapital Universe Profile: Impact Reporting and Investment Standards (IRIS), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Impact+Reporting+and+Investment+Standards+%28IRIS%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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