The Multilateral Investment Fund (MIF) supports economic growth and poverty reduction in Latin America and the Caribbean through encouraging increased private investment and advancing private sector development. It works with the private sector to develop, finance, and execute innovative business models that benefit entrepreneurs and poor and low-income households; partners with a wide variety of institutions from the private, public and nonprofit sectors; evaluates results; and shares lessons learned.
The MIF is a laboratory for testing pioneering, market-based approaches to development, and an agent of change that seeks to broaden the reach and deepen the impact of its most successful interventions
The Multilateral Investment Fund/MIF, funded by 39 donors, supports private sector-led development benefitting low-income populations and the poor - their businesses, their farms, and their households. The aim is to give them the tools to boost their incomes: access to markets and the skills to compete in those markets, access to finance, and access to basic services, including green technology.
A core MIF mission is to act as a development laboratory - experimenting, pioneering, and taking risks in order to build and support successful micro and SME business models. To make effective use of MIF projects, the MIF is committed to
- rigorous results measurement and impact evaluation, and
- active knowledge sharing so that the most promising solutions are widely known and can be taken to scale.
The MIF finances about 100 projects per year, with a total finance volume of about US$100 million. MIF project benefits reached over 600,000 individuals and businesses in 2010.
The MIF works through technical assistance grants, lending, and equity investments, as well as through combinations of these tools when both capacity building and risk sharing finance are needed for success. It is the largest international technical assistance provider to the private sector in Latin America and the Caribbean and always works with local, mostly private partners to help fund and execute projects - civil society organizations, industry associations, foundations, universities, cooperatives, companies, and financial institutions. Every dollar approved by the MIF leveraged more than US$2.5 from partners in 2011.