The foundation also recently launched a healthcare portfolio, nicknamed Going Further, which it says it plans to co-fund to deliver better health services to the world’s poorest communities in line with the Sustainable Development Goals.
Kinedu, a venture spun out of Mexico-based education consultancy Edtech, has meanwhile raised US$1.1 million to enhance children’s learning in the earliest stages of their development.
FMO will also extend a loan of US$5 million loan from MASSIF, a financial inclusion fund managed on behalf of the Dutch government, to fund the Pakistani Kashf Foundation. Kashf is a microfinance institution created to alleviate poverty by providing affordable financial and non-financial services to low-income households.
The Meloy Fund, an impact investment fund focused on sustainable coastal fisheries in Indonesia and the Philippines, has closed a further US$7 million of funding and is finalising a partial guarantee with the US Agency for International Development (USAID) through its Development Credit Authority. The fund holds a total capital sum of around US$17.1 million. Other investors in the vehicle include the Global Environment Facility (GEF) and Ceniarth. LLC, a single-family office that targets underserved communities.
The Lebanese government, through its parliamentary committee, has approved a US$34 million loan by Agence Française de Developpement to facilitate private investment in its energy sector. Investment will include both renewable and non-renewable energy sectors related to oil and gas.