📋 Tender Overview
Maximum contribution $18,944,025
Partner profile MEDA - Mennonite Economic Development Associates
Country / region
• Africa, regional (30.00%)
• America, regional (30.00%)
• Asia, regional (40.00%)
Sector
• Banking And Financial Services
Formal sector financial intermediaries (24030) (40.00%)
• Business And Other Services
Business support services and institutions (25010) (20.00%)
• Industry
Small and medium-sized enterprises (SME) development (32130) (40.00%)
This project aims to reduce poverty by supporting the development of small and medium enterprises, which play a vital role in creating jobs and generating wealth in developing country markets. The project supports the launch of a 15-year investment fund that leverages private equity investment of up to $400 million to help up to 250 of the most promising small and medium enterprises in developing countries grow, thereby creating at least 15,000 new jobs. Through investments and technical assistance, the project also aims to increase access to products and services for up to 10,000,000 individuals, improve socially responsible business practices and generate additional revenues for small and medium enterprises and governments. This project is a collaboration among the Mennonite Economic Development Associates, Sarona Asset Management, and the MaRS Centre for Impact Investing. The project is part of Canada's commitment to promoting sustainable economic growth globally.
The expected intermediate outcomes for this project include: over the life of the fund, (i) expanded and improved investment services provided by 12 to 18 investment funds to up to 250 small and medium enterprises; and (ii) strengthened capacity for economic growth, job creation, reporting and social impact among 15 to 20 investment firms and up to 250 small- and medium- sized enterprises.
