MIF lends US$1.5mn to help SMEs access equity financing

- Thursday, December 22, 2011

MIF lends US$1.5mn to help SMEs access equity financing

The Multilateral Investment Fund (MIF) and Colombian state-owned development bank Bancóldex announced a joint US$1.5mn project to help strengthen the country's venture capital industry.

The project aims to pave the way to increasing local SMEs' access to finance, MIF said in a press release.

It will also provide training to local fund managers and institutional investors, as well as facilitate interaction and networking between SMEs and venture and private equity funds, to improve access to equity financing and create a suitable public policy framework for these investments.

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By creating a better environment for venture capital and private equity financing, the project will help Colombian entrepreneurs overcome insufficient credit to develop and grow their businesses, MIF said.