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Medical Credit Fund raises EUR32.5m to support health entrepreneurs in sub-Saharan Africa

Medical Credit Fund (MCF), a debt investor fully dedicated to the African health sector, has completed a EUR32.5 million fundraise of its second fund (MCF II). 

The funding round was anchored by the Dutch Ministry of Foreign Affairs, which provided the first equity injection of EUR7.5 million in January this year, to cater to the demand for loans during the heights of the Covid-19 crisis. Also participating in this funding round are CDC Group, EUR10 million, FMO, EUR7.5 million, Swedfund, EUR5 million and Philips, EUR2.5 million. 

In addition, MCF will benefit from a guarantee facility by the US International Development Finance Corporation (DFC), which was initiated by the Health Finance Coalition (HFC) with support of the US President’s Malaria Initiative (PMI) and USAID’s Center for Innovation & Impact (CII). Through blended finance, MCF uses catalytic capital from both public and private sources and is targeting to grow to EUR80 million in the next few years.

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