VISIONFUND MICROFINANCE INSTITUTION
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
VisionFund MicroFinance Institution has been in operation since 1999 as a regulated and legally registered microfinance service provider in Ethiopia. It strives for making significant impact on the lives of communities through provision of customer-oriented credit and saving services for the productive poor in the rural and urban areas of Ethiopia.
What is our funding objective?
The project will support the implementation of VFMFI’s new core banking system through a series of staff trainings, which will ensure an optimal deployment of the CBS and increase participants’ technical skills and understanding of the core features and potential applications.
Why do we fund this investment?
Staff training is an essential part of VFMFI’s endeavour to upgrade its CBS. It is also expected to provide tools and knowledge to transform the operational procedures of the institution to meet current and future financial industry standards through applying good practices and improved procedures.
What is the Environmental and Social categorization rationale?
N/A
More investments
| Date | Total FMO financing |
|---|---|
| 3/15/2022 | USD 2.60 MLN |
- Region
- Africa
- Country
- Ethiopia
- Sector
- Financial Institutions
- Effective date
- 12/7/2021
- End date
- 12/22/2022
- Total FMO financing
- EUR 0.05 MLN
- Funding
- MASSIF
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C