ImpactAlpha, May 12 – BRAC International Microfinance, the non-governmental organization’s international arm, worked with Seattle-based Global Partnerships and Proparco, the French development bank, to issue $40 million in notes under a new debt program. The mechanism allows BRAC to tap international investors to augment direct and syndicated loans and local fundraising.
BRAC expects to use the Netherlands-based debt program to raise up to $250 million over five years.
“Launching a capital markets debt program 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 BRAC’s Shameran Abed.
Palladium Impact Capital and Courageous Capital Advisors helped structure the debt program.