Delivering growth capital globally to real economy banking serving real human needs
LUXEMBOURG: Sustainability | Finance | Real Economies SICAV – SIF (SFRE, pronounced Sapphire) has made an investment totalling USD 4 million in PRASAC (Cambodia) a microfinance institution, in line with its strategy of advancing social, environmental and economic development by providing capital to banks.
SFRE was initiated by the Global Alliance for Banking on Values (www.gabv.org), to meet growth capital needs of sustainability-focused banks, and to expand their impact and reach. SFRE is the first open-ended investment company created to support the globally growing segment of banks focused on serving individuals and enterprises in the real economy, while delivering a triple bottom line of economic, social and environmental impact.
Jim Prouty, CEO of SFRE noted, ‘Our investment in PRASAC reflects how SFRE will help expand the reach and contribution of sustainability-focused banks serving thousands of individuals and entrepreneurs building their businesses, creating jobs and improving local communities. Financing real economy needs is a growing opportunity in the financial sector. PRASAC shows our commitment to meeting these needs on a global basis.’
Gil Crawford, CEO of MicroVest Capital Management, LLC and SFRE’s Portfolio Manager added, ‘We are happy to provide PRASAC with financing as it is the Cambodian microfinance institution with the largest reach that simultaneously provides meaningful returns for its investors and access to finance to citizens most in need.’
- Learn more about the PRASAC (Cambodia) investment and positive impact it supports.