On August 18, the Japan International Cooperation Agency (JICA) signed an agreement to invest US$10 million in the Lendable MSME Fintech Credit Fund, a debt fund managed by Lendable Inc. JICA’s investment will be used to finance early-stage fintech start-ups that are working to improve access to finance in developing regions of Africa and Asia. This project will contribute to “businesses that solve social issues through innovation such as digital transformation,” which was mentioned at the TICAD ministerial meeting held in March this year, and will be signed prior to the TICAD 8 to be held in Tunisia on August 27 and 28. The project will be signed prior to TICAD 8 to be held in Tunisia on August 27 and 28.
Lendable is a pioneer in financing fintech startups, using IT and data science to manage funds for early-stage fintech companies in developing regions.
This project will contribute to SDG Goal 1 (End Poverty), Goal 8 (Job Satisfaction and Economic Growth), and Goal 9 (Build a Foundation for Industry and Innovation) by providing loans to early-stage fintech companies in Africa and Asia through the Lendable MSME Fintech Credit Fund. Goal 8 (both job satisfaction and economic growth) and Goal 9 (create a foundation for industry and technological innovation). The goal is to mobilize US$3 billion by 2020 for projects that contribute to the economic empowerment of women.
© Source JICA