MCE Social Capital is a non-profit corporation registered in California. It was set up in 2005 with the aim of contributing to reducing poverty by mobilizing private investment capital to support microenterprises in developing countries.
MCE mainly achieves this objective by financing microfinance institutions (MFIs) which serve a high percentage of women in rural areas and/or those which offer training programs to their borrowers.
The project involves a USD 8m senior debt allocated to MCE Social Capital.
MCE was set up to support small and medium-sized MFIs which assist microentrepreneurs located in rural areas and/or women, via financial and non-financial services. It is estimated that over the next 5 years, PROPARCO’s support will allow MCE to give 111,000 people access to microcredit in at least 35 different countries.
MCE also finances SMEs with strong social impacts (access to water and clean energy and agricultural value chains), as well as projects for women’s empowerment.
It is also estimated that the investment by MCE Social Capital will support or create indirect jobs and will have a strong knock-on effect on local economies.