Frankfurt-headquartered Deutsche Bank has successfully secured $75 million in private financing from institutional investors for the Microfinance Enhancement Facility.

Frankfurt-headquartered Deutsche Bank has successfully secured $75 million in private financing from institutional investors for the Microfinance Enhancement Facility. This will enable MEF to grant up to 75.000 additional loans to micro and small enterprises worldwide.

Established by the German Federal Ministry for Economic Cooperation and Development, KfW Developmentbank and International Finance Corporation, a member of the World Bank Group, the facility provides funding to microfinance institutions worldwide.

Since its inception in February 2009, the facility has financed more than 197,000 loans at a value of $604 million (as at 30 September 2013), financing mainly trade, services and agriculture activities of micro and small enterprises in emerging and developing countries.

The $75 million secured by Deutsche, brings the fund to $544 million in outstanding commitments including $469 million from public investors and development finance institutions.