LocFund is an Investment Fund providing financing in local currency to microfinance institutions in Latin America and the Caribbean. Widely focused on institutions with limited access to funding and less opportunities to optimize their financing structure, LocFund provides local currency financing reducing local currency devaluation risks.

BIO is ervan overtuigd dat haar operaties een aanzienlijk positieve impact hebben op de ontwikkeling van het lokale economisch weefsel in ontwikkelingslanden en op de verbetering van de leefomstandigheden van de plaatselijke bevolking

Under the financing agreement, the African Development Bank (AfDB), the Emerging Africa Infrastructure Fund (EAIF), the Netherlands Development Finance Company (FMO), the German Development Finance Institution (DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH), the South African Industrial Development Corporation (IDC), the Belgian Development Bank (BIO), together with Cordiant managed ICF Debt Pool, are providing debt financing of €133 million. The Swedish Development Fund (Swedfund) and FMO are to join AOG as equity partners. The total size of the investment is estimated at €267 million. The financial close and first draw down of loans and equity is expected to take place in November 2011. Addax Bioenergy S.A. (“Addax Bioenergy”), a subsidiary of the Addax and Oryx Group (AOG), today hosted the ground breaking ceremony for its energy and agriculture project near Makeni, in Sierra Leone (the “Project”).