Washington, D.C., September 4th, 2019 – Proparco became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. “200 million businesses worldwide need financing to invest, grow and create new jobs. We are proud to have Proparco join our network of more than 150 members who work to expand access to finance for small and medium businesses,” said Matthew Gamser, CEO of the Forum.
Proparco is a French financial institution working for the private sector and sustainable development in 80 countries across the globe. Proparco’s work focuses on key sectors of development such as infrastructure, renewable energy, agriculture and agro-industry, finance, health and education. To accelerate the growth of SMEs in Africa, Proparco and its parent company launched in 2019 the “Choose Africa” initiative, which aims to spend €2.5 billion to fund and support nearly 10,000 African start-ups and small businesses by 2022. “Through the SME Finance Forum, we will be able to network with other DFIs from around the world and share knowledge on best practices for accelerating sustainable development and SME financing,” said Guillaume Barberousse, Head of Financial Institutions Group for Proparco.
To see all SME Finance Forum members, please visit: https://www.smefinanceforum.org/members/member-list
About SME Finance Forum
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative. In 2015, the SME Finance Forum partnered with CapitalPlus Exchange to expand and upgrade the former Small Business Banking Network. https://www.smefinanceforum.org/
About Proparco
Proparco is a subsidiary of Agence Française de Développement (AFD) focused on private sector development. It has been promoting sustainable economic, social and environmental development practices for more than 40 years. Proparco provides funding and support to both businesses and financial institutions across Africa, Asia, Latin America and the Middle-East. It seeks to partner projects in key development sectors – infrastructure (with a specific focus on renewable energies), agribusiness, financial institutions, healthcare and education, etc. – and to boost the contribution of the private sector to achieving the sustainable development goals adopted by the international community in 2015. As a means to this end, Proparco finances businesses that are instrumental in creating decent jobs that pay decent wages, in supplying essential goods and services and in battling climate change.
For more information, go to: https://www.proparco.fr/en - Twitter: @Proparco
Media Contact
Carina Carrasco
ccarrasco@worldbank.org
