Through this new facility the fintech lender will be able to channel the funds via its range of tailored financing solutions across SME segments across all its five markets.

The investment will help promote greater market competitiveness by bolstering competition in the micro, small and medium enterprises (MSMEs) financing market through a capital market solution.

This loan is ADB's first intervention in Kazakhstan's financial sector in several years. It will support KMF's efforts to improve financial inclusion and contribute to Kazakhstan's recovery from the COVID-19 pandemic.

The second fund aims to finance African rural microfinance institutions and agricultural entities sourcing from small-holder farmers in the continent.

Attracted financial means will be directed towards the development of micro, small and medium-sized businesses in Armenia.

The proceeds will be used towards expanding the company’s portfolio to female borrowers for income generation purposes, specifically in the low-income or rural areas of India.

Finamiga plans to use the wholesale loan to fund 4,000 retail agricultural loans and 1,000 motorcycle loans.

A new investment will help increase access to finance for small businesses, especially women-owned firms, while promoting sustainable projects in Mexico.

The lending brings the Fund’s total number of investments to 23 firms globally, as it continues its goal to enhance the everyday lives and livelihoods of smallholder farmers while increasing opportunities for women and younger individuals.

The initiative is part of a larger LuxDev effort in Niger that has a total budget of EUR 145 million (USD 156 million).