(Ecofin Agency) - The Sierra Leonean microfinance institution A Call to Business Savings and Loans (ACTB) will receive $1.5 million from the Dutch Development Finance Fund (FMO) as the Fund’s first commitment to the West African country’s financial sector.
The 3-year credit line will be used to finance micro-entrepreneurs and small businesses in Sierra Leone. It will be provided via Massif Fund, an investment fund managed by the FMO on behalf of the Dutch government and dedicated to financing institutions and micro-enterprises in developing countries.
“FMO’s investment represents a significant step forward towards helping us realize our social impact targets and expansion ambitions. We look forward to developing our partnership with FMO on this exciting next stage of ACTB’s journey,” said David Kamara (pictured), CEO of ACTB.
Last year, Massif Fund invested about €208 million in micro enterprises and financial institutions in Africa.