PROJECT

Projects

Summary of Investment Information

Project Number

47753

Company Name

BIX FM B.V.

Date SPI Disclosed

Apr 22, 2024

Country

Africa Region

Region

Africa

Projected Board Date

Jun 28, 2024

Environmental Category

FI-2 - Limited

Status

Hold

Last Updated Date

Sep 29, 2024

Department

Regional Industry - FIG Africa

Industry

Funds

Sector

Other Non-Private Equity Fund

Additional Project Attributes

Blended Finance

Project Description

IFC is considering an investment of up to US$15 million in BIX2 Fund (BIX2 or the Fund), a structured debt fund with a target size of US$80 million.  The Project is composed of (i) an up to US$12.5 million investment in the Fund’s senior tranche for IFC’s own account; and (ii) an up to US$2.5 million investment in the Fund’s mezzanine tranche by Blended Finance through the Canada-IFC Blended Climate Finance Program (BCFP) as described in the Blended Finance Section.

The Fund will provide pre-financing of impact receivables (carbon, health, and gender) to manufacturers and distributors of household appliances that address climate, health, and gender challenges for low-income households.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation