BRAC International Microfinance has established a debt program that will tap capital markets for finance to help it continue its work over the next decade. 

BRAC is one of the world’s largest international development organisations, founded in India in 1972, it continues to impact more than 120 million people with funding coming from donations, but also from a number of successful social enterprise organisations. 

The international arm of the firm, BRAC International, operates in 10 countries in Asia and Africa. Its Microfinance division is focussed on offering financial services and lending opportunities to those excluded from formal financial systems.

This latest debt program aims to secure financing for the next decade, and operates as a dedicated international financing company for the organisation. 

It will allow BRAC International Microfinance to periodically tap the capital markets for access to capital in coming years, with Covid19 rebuilding efforts will be the focus of the first debt issuance. 

The raise was led by Global Partnerships, an impact fund manager from Seattle, as well as Proparco, the French development bank. 

“Launching a capital markets debt programme represents a step-change in how BRAC International will finance the delivery of its microfinance products and services across all of its operations in Asia and Africa” said Shameran Abed, the Executive Director of BRAC International.

“We are now in a stronger position to secure continuous funding to provide far greater value to the hundreds of thousands of clients that we already serve and to achieve greater impact at scale by serving hundreds of thousands more who are outside of the formal financial system.”

Advisory and structuring the program came from Palladium Impact Capital and Courageous Capital Advisors. 

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