Nordic Development Fund backs Bamboo Capital Partners vehicle
The Nordic Development Fund (NDF) announced a strategic partnership with, and investment in, the BUILD Fund, a blended finance vehicle supporting sustainable development in the least developed countries (LDC).
An impact fund designed and launched by the United Nations Capital Development Fund and Bamboo Capital Partners, the BUILD Fund strives to fill the important ‘missing middle’ funding gap in LDCs. This means providing investments larger than micro loans but smaller than commercial lending – an acute need for small and medium-sized enterprises (SME), which are typically overlooked by traditional lending institutions.
“The SME is the segment that contributes the most to GDP of local economies, especially in LDCs,” said Sally Gitonga, the investment director at Bamboo Capital Partners. “They contribute significantly to employment, economic growth and stability, and tax revenue. Unfortunately, in the view of traditional financial services, SMEs are viewed more as a high risk and receive far less capital support.”
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