Trade-related financial services - Austria
The Austrian Development Bank invests in the Microfinance Enhancement Facility (MEF), a US$545,8 million fund founded by KfW and IFC, which aims to boost the pool of refinancing available to the microfinance industry. In 2009 the OeEB committed a financial envelope of €20 million to the fund and €9,4 million in 2014. Together with the two founders, IFC and KfW, it was the first institution to subscribe to the fund. This investment is in line with OeEB’s focus on strengthening microfinance institutions. The funds will be used to support microfinance institutions in South East Europe, Central Asia, Africa and Central and Latin America.
Credit line for financing agricultural enterprises in Central America - With the credit line OeEB provides access to financing options for agriculture enterprises in Central America and secures that LAAD has furthermore the ability to offer long-term credits to their clients. Thereby OeEB supports necessary modernization in the agricultural sector in Central America as well as the maintenance and creation of employment. Especially in agrarian areas poverty appears very distinctive. Agriculture clients who use genetically modified seeds will be banned from receiving financing resources of OeEB.