In sub-Saharan Africa, almost 80 percent of the population lacks access to basic financial services like a checkings or savings account. This problem also effects small businesses struggling to access credit. In this context, Martin introduces Medical Credit Fund’s approach:
‘OPIC and the Bill and Melinda Gates Foundation are among a group of development banks, foundations and NGOs that have supported the Medical Credit Fund (MCF) and its innovative approach to improving the quality of healthcare in Africa. MCF is a social investment facility that finances the ‘missing middle’ of the healthcare sector in Sub-Saharan Africa – those clinics that may be too big to access microfinance, but don’t qualify for traditional bank loans. The fund provides loans to small and medium size private sector healthcare facilities that serve low income populations in Tanzania, Ghana, Kenya and Nigeria.’
Click here to read the full OPIC blog.
OPIC, the U.S. Government’s development finance institution, mobilizes private capital to help solve critical development challenges and has provided a commitment to Medical Credit Fund.