By supporting the EuroMena III generalist fund, Proparco is contributing to financing companies in the MENA (Middle East/North Africa) region. The fund particularly supports the regional development of companies.
EuroMena III is a USD 150m investment fund which aims to finance the growth of companies operating in the MENA region (with an opening up to Sub-Saharan Africa) to allow them to develop a regional footprint. It is a generalist fund which selects its targets depending on the capacity for growth and potential for resilience to exogenous shocks and entry barriers they have developed.
Proparco's financial contribution to this fund mainly aims to continue the support to companies in the MENA region, which are particularly subject to a contraction of financing. It also aims to catalyze the entry of new investments to reach a target size of USD 150m.
The main expected outcomes firstly concern the fact that some 3,000 jobs will be created or maintained over the next 5 years. The project will also support the training and professionalization of underlying companies, particularly for financial, E&S and AML/CFT issues. Finally, the project will have a catalyst effect on financing for the fund's companies to allow them to implement regional development strategies.