BII, DFI to invest $75 mn to fund MSME projects in Africa, Asia

British International Investment (BII) and the British Development Finance Institution (DFI) have subscribed to a $75 million Green Basket Bond to fund micro, small and medium enterprise (MSME) projects in the African continents, South and Southeast Asia through local banks.

BII will allocate approximately 25% or $18.7 million of the capital to India.

The company said the green loan program would direct funding to small-scale green projects in Africa, South and Southeast Asia through local MSME banks.

The Green Basket Bond is a first in BII's markets, including Africa, India, Pakistan, Bangladesh, Sri Lanka, Nepal, Indonesia, Philippines, Vietnam, Cambodia and Laos.

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