Global Microfinance Facility

The Global Microfinance Facility (GMF) has been developed in collaboration with the IFC and was established in 2004 to provide senior unsecured loans in hard and local currency to microfinance institutions in Latin America, Caucasus Asia, Eastern Europe, Central Asia, South East Asia, and Africa which on lend the funds to micro entrepreneurs. Loans to MFIs range from under USD 1.0 million to USD 10.0 million, with an average size of USD 3.0 million. GMF is currently a USD 134.0 million facility which was established as a limited liability company in the Cayman Islands in 2004.

GMF is managed by Cyrano Management S.A. (Cyrano), a corporation specializing in financial institutions and investment funds that service small businesses, based in Lima, Peru. Cyrano also manages numerous microfinance funds in Latin America and globally..

SECO and SIFEM on behalf of SECO have invested USD 8.5 million in A, B, and C Notes of GMF since 2005.