Browsing: OPIC

OPIC, FORD Foundation, and Citi to bring financing to businesses serving low income communities in developing world

The Overseas Private Investment Corporation (OPIC), the Ford Foundation, and Citi Inclusive Finance have introduced Scaling Enterprise, a $100 million loan guarantee facility, which will enable Citi to provide early-stage financing in local currency to companies that expand access to products and services for low-income communities in emerging markets.

Loans and working capital in local currency and at affordable rates can enable early-stage social impact companies to achieve scale, greater efficiencies, and lower costs. Scaling Enterprise will facilitate vital growth financing to eligible companies that are expanding access to finance, agriculture, energy, affordable housing, water, and sanitation to low-income households in emerging markets.

In addition to enabling companies to scale and expand their impact, the partnership will help these ventures gain a wider array of mainstream financing options in the future.

“For many companies that are working to meet the needs of vulnerable and underserved populations in emerging economies, …