Alliance Finance Company PLC (AFC) has secured a $ 5 million medium-term financing facility from impact investing fund EMF Microfinance Fund AGmvK, advised by Swiss-based Enabling Qapital S.A. The financing facility will be used to support Covid-impacted micro, small, and medium-sized entrepreneurs (MSMEs) across the country in line with AFC’s mandate to uplift the livelihood of marginalised communities and developing MSMEs.
AFC Deputy Chairman and Managing Director Romani de Silva elaborated: “This is a significant milestone for AFC and the funding provided by Enabling Qapital will further strengthen our mandate for sustainable finance. Furthermore, I am very grateful to Enabling Qapital for identifying AFC as the preferred channel for its maiden investment into the MSME sector in Sri Lanka. It is also a reflection of the trust placed in our sustainable business model and the confidence placed in the MSME sector of Sri Lanka.”
In recent years, AFC has been investing 3-4% of its profit annually in social and environmental sustainability initiatives amidst the extremely challenging external environment. The company has demonstrated strong improvements in all of its performance indicators such as growth, profitability, and portfolio quality in recent times, especially after the successful restructuring programme implemented with the technical assistance of the International Finance Corporation (IFC).
Enabling Qapital is an impact investment advisory company with strong ties, expertise, and a proven track record in microfinance and impact investing.
Swiss-based Enabling Qapital invests $ 5 m in Alliance Finance
04 Jan 2022
Swiss-based Enabling Qapital invests $ 5 m in Alliance Finance
04 Jan 2022