LEADING MICROFINANCE AND IMPACT FUND MANAGERS SIGN MOU ON DEBT REFINANCING COORDINATION PRINCIPLES

Press Release

BlueOrchard, Developing World Markets, Incofin, Microvest, Oikocredit, responsAbility, Triodos IM,
Triple Jump and Symbiotics have signed a Memorandum of Understanding (MoU) for coordination
in response to COVID-19. Together, these nine investment originators and fund managers in
impact investing have about USD 15 billion of assets under management, invested in more than 80
emerging and frontier markets across Africa, Asia, Eastern Europe, Middle East, Caucasus, Central
Asia and Latin America.

Measures taken locally to reduce the spread and impact of COVID-19 can affect clients, operations
and liquidity of Microfinance and SME finance institutions. The MoU aims to coordinate efforts in
the provision of ongoing refinancing in a responsible manner, thereby enabling these institutions to
adequately respond to temporary changes in business conditions.

The MoU notably emphasizes: “Microentrepreneurs and SMEs will form a vital basis for social and
economic recovery. Supporting Financial Inclusion and preservation of the strong foundations that
have been built over recent years is therefore of vital importance. This calls for enhanced cooperation within our sector. We have learned from previous experience that through transparency and close cooperation we can best help our partners and our own organizations through challenging times. The  purpose of this document is therefore to guide our organizations, our investment teams, our clients, other finance providers and other relevant stakeholders.”

The MoU is not legally binding but forms a strong basis for coordination over the coming months,
with pragmatism, transparency and tolerance as key principles. The MoU also serves as a basis for
dialogue with other stakeholder such as multilateral and development finance banks and policy
makers.

The signatories welcome additional impact fund managers to join the initiative in the coming
weeks, as many have expressed interest.

Strong alignment among market protagonists is the best possible way to safeguard the interests of
impact investing, and ultimately the social impact and benefits that the sector offers to low income
households and small businesses in low- and medium-income economies.

Please refer to the website of each signatory for further information.