Apexes are an important source of local
funding for microfinance-and even more so since the global
financial crisis. Well over US$2 billion per year of public
money is being disbursed globally to microfinance through
apex funds or local wholesale facilities. The funds are then
disbursed by apexes to microfinance institutions (MFIs)
mostly as subsidized loans, but occasionally as grants. The
funding provided by apexes to MFIs is almost as much as the
disbursements that donors and investors made to the entire
microfinance sector in 2007, which was about US$2.5 billion.
These large sums demonstrate the importance of apexes as
vehicles to channel public money into microfinance.
Bibliographic Details
| Main Authors: |
Duflos, Eric,
El-Zoghbi, Mayada |
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| Format: | Brief
biblioteca
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| Language: | English |
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| Published: |
Washington, DC: World Bank
2010-03
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| Subjects: | APEX,
APEX INSTITUTION,
CGAP,
COMMERCIAL BANKS,
COMMERCIAL FUNDING,
COMMERCIAL INVESTORS,
DEBT,
DEVELOPMENT BANK,
DEVELOPMENT BANKS,
DEVELOPMENT FINANCE,
DISBURSEMENT,
DISBURSEMENTS,
EXCHANGE RATE,
FINANCIAL CRISIS,
FINANCIAL MARKETS,
FINANCIAL SECTOR,
FOREIGN EXCHANGE,
GOVERNANCE ISSUES,
HOST GOVERNMENT,
HOST GOVERNMENTS,
INTEREST RATE,
INTERNATIONAL INVESTORS,
INVESTMENT VEHICLES,
LIQUIDITY,
LOCAL CURRENCY,
MICROFINANCE,
MICROFINANCE INSTITUTIONS,
MICROFINANCE MARKETS,
MICROFINANCE SECTOR,
NATIONAL BANK,
NONGOVERNMENTAL ORGANIZATIONS,
POOL OF FUNDS,
PORTFOLIO,
PORTFOLIOS,
PRIVATE COMMERCIAL BANKS,
PUBLIC FUNDS,
RESERVE,
RESERVE BANK,
STATE BANK,
TECHNICAL ASSISTANCE,
TRANSPARENCY,
WHOLESALE FUND,
WHOLESALE FUNDING, |
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| Online Access: | http://documents.worldbank.org/curated/en/2010/03/12821139/apexes-important-source-local-funding
http://hdl.handle.net/10986/9461
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