KUALA LUMPUR, Oct 3 (Bernama) -- Emerging Markets Global Advisory LLP (EMGA), the emerging market investment bank has originated, structured, and negotiated EURO 9.4 million funding facility for Kashf Foundation with financing from Belgian Investment Company for Developing countries (BIO). (EURO 1 = RM4.549)
“It has been a pleasure to continue our long-term partnership with Kashf Foundation and deliver this new financing solution despite the volatile economic environment both within Pakistan as well as globally,” said EMGA’s Managing Director and Head of Investment Banking, Sajeev Chakkalakal in a statement.
Meanwhile, CFO of Kashf Foundation, Shahzad Iqbal said: “Just to share that it has always been a pleasure working with EMGA on new transactions to expand our network and outreach. This is the first ever transaction that we are doing with BIO and that too, in Euros.
“I believe BIO and Kashf will work together and build a strong relationship to increase the financial inclusion in Pakistan and particularly for women. This transaction will help Kashf Foundation to expand its outreach not only in its existing operational areas but also in the new geographical regions across Pakistan.”
Frédéric Vereecke, Investment Officer from the Belgian Investment Company for Developing countries (BIO) commented: “We welcome the opportunity to support Kashf Foundation in empowering women and their families by providing quality financial services to low-income households in Pakistan.”
BIO supports a strong private sector in developing and emerging countries, to enable them to gain access to growth and sustainable development within the framework of the Sustainable Development Goals.
With offices in New York and London, EMGA helps financial institutions and corporates that seek new debt or equity capital.
-- BERNAMA
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