Small and Medium Scale Enterprise Program (IFC, first replenishment)

Building on the lessons learned from the pilot phase, this program is designed to stimulate greater involvement of private, small and medium scale enterprises (SME) in GEF-eligible activities. It on-lends GEF grant funds to carefully screened intermediaries at long-term low interest rates. The intermediaries commit to use the funds to finance GEF-eligible small and medium scale enterprise projects, either with debt or equity investments. The Program allows the intermediaries to fund long-term loans or equity investments in relatively high-risk, experimental SME projects where normally priced capital is lacking.