FMO and IDB Launch Local Currency Fund for Micro Institutions

FMO, the international development bank of the Netherlands, together with the Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB) have signed for a local-currency fund (Locfund) to offer financing to micro and small businesses in Central America and the Caribbean. FMO will finance the new facility through its MASSIF fund, which provides venture capital and loans in local currency to banks in developing countries, so that the can serve local micro and small businesses and consumers more effectively.