Publication: Apexes : An Important Source of Local Funding
Apexes are an important source of local funding for microfinance-and even more so since the global financial crisis. Well over US$2 billion per year of public money is being disbursed globally to microfinance through apex funds or local wholesale facilities. The funds are then disbursed by apexes to microfinance institutions (MFIs) mostly as subsidized loans, but occasionally as grants. The funding provided by apexes to MFIs is almost as much as the disbursements that donors and investors made to the entire microfinance sector in 2007, which was about US$2.5 billion. These large sums demonstrate the importance of apexes as vehicles to channel public money into microfinance.
“Duflos, Eric; El-Zoghbi, Mayada. 2010. Apexes : An Important Source of Local Funding. CGAP Brief. © Washington, DC: World Bank. http://openknowledge.worldbank.org/entities/publication/a229493c-8fca-5a76-8085-14a470f90e46 License: CC BY 3.0 IGO.”