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Zachary Levey

Information

This is an official funding.

The Multilateral Investment Fund (MIF) of the IDB Group

Snapshot
Total Amount USD 600 million (approx. USD 120 million per year)
Financing Mechanisms Equity , Grant , Loan , Technical assistance
Qualifying Projects Adaptation , Mitigation, Agriculture , Energy , Energy Efficiency , Forestry , Renewable Energy
Eligibility

Grants: private sector institutions must be non-profit and can include non-governmental organizations (NGOs), industry associations, chambers of commerce and foundations. Under certain circumstances grants are provided to for-profit organizations as well.
MIF Investments: typically fund private financial institutions, such as banks, venture capital funds, cooperatives, microfinance institutions or NGOs, who can then on-lend the resources to the benefit of micro and small businesses region-wide.
Counterpart Requirements: depending on the country, the executing agency is responsible for counterpart contributions of at least 30% of the total amount of operation
Eligible Countries: Argentina, Bahamas, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Suriname, Trinidad and Tobago, Uruguay, Venezuela

For more information on Institutional Eligibility:
http://www.iadb.org/mif/requirements.cfm?language=English

Funding Objectives

The Multilateral Investment Fund (MIF) provides technical support and investments aimed to increase the competitiveness of small and micro enterprises. As the largest supporter of microfinance and smaller scale venture capital in the region, the MIF has increased access to finance and capital for small firms and provided technical support to improve their businesses. The MIF also provides training and finance for small clean energy companies, as well as for programs that improve the energy efficiency of small and medium sized enterprises.

The MIF aims to become a major force in helping smaller firms and individuals benefit from market opportunities related to climate change and in assisting businesses and low-income households to identify and manage the risks associated with this challenge. The MIF seeks to leverage its resources, expertise and networks through catalytic partnerships with other international development organizations, the public and private sector and civil society.

Financing Mechanisms
  • Grants for public sector agencies and private non-profit organizations such as NGOs, business associations and foundations. MIF grants are used to promote (i) access to finance, (ii) business framework, and (iii) enterprise development.
  • Investments made through financial intermediaries that provide loans, capital investment and technical assistance. MIF is one of the biggest regional investors in venture capital funds for small businesses.
Application Procedures

Applications can be submitted any time of the year. These should be 3-5 pages and sent to the IDB Country Representative in the IDB Country Office in the country where the project would be executed. In regional proposals, abstracts should be submitted to the Country Office in the country in which the project executing unit will be located. Applications are then forwarded to the MIF in Washington, DC for a determination of technical eligibility.

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