LAPO MFB II

The proposed project consists of a USD30 million funding envelope that will support the expansion of LAPO Microfinance Bank (“LAPO MFB”), an existing investment partner of IFC. LAPO MFB was created through the transformation of the microcredit activities of Lift Above Poverty Organisation into a regulated financial institution in 2010. As the leading LAPO MFB provides credit and savings services to its target market of micro entrepreneurs, most of whom are small-scale traders in urban and peri-urban areas. LAPO MFB also works with partners to provide insurance coverage and health and educational services to its clients. It currently serves over 1.2 million clients and aims to reach 5 million clients during the life of this project.