Alliance Finance Company PLC (AFC) has received the second tranche of $ 5 million from the Dutch Entrepreneurial Development Bank (FMO) as part of a long-term financing facility of $ 10 million to expand its growing portfolio of micro, small, and medium-scale enterprise (MSME) business. AFC secured this $ 10 million facility from FMO in mid-2021 and received the first tranche of $ 5 million July 2021. With an investment portfolio of € 6.3 billion, FMO is one of the largest European bilateral private sector development banks with investments in 85 countries. This financing series is also a significant development for the country’s MSME sector. The AFC-FMO partnership to develop the MSME sector in the country confirms AFC’s growing international credibility.

Source: The Nation December 24, 2021 07:05 UTC