1. In partnership with the
Multilateral Investment Fund
A laboratory for experimenting, pioneering, and taking risks to empower dynamic entrepreneurs
and poor and vulnerable populations—their businesses, their farms, and their households
Multilateral Investment Fund
Member of the IDB Group

2. What We Do
The Multilateral Investment Fund (MIF), a member of the Inter-American
Development Bank (IDB) Group, is the largest provider of technical assistance
for private-sector development in Latin America and the Caribbean.
Our core beneficiaries include micro and small businesses, small farms, and
poor and vulnerable households.
We design and finance pilot projects to test pioneering approaches to
building economic opportunity and decreasing poverty. We evaluate the
results and the impact of our projects to identify replicable solutions that can
be scaled up by the public and private sectors.
We are committed to sharing the lessons learned from our work so that others
can benefit.
Using small projects, we have achieved sustainable transformation in the
thinking and behavior of people, policymakers, organizations, and businesses
in areas such as microfinance, remittances, venture capital, and training for
youth.
Who We Are
The MIF was created in 1993 by 21 donor countries.
Sixty-five percent of the financing we provide is in the form of grants, 25
percent is equity, and 10 percent is loans. We provide the loans and equity
alone or in combination with grants—as well as expert advice.
With this wide variety of tools and more than 20 years of experience in
the field, we have the flexibility required to tailor solutions to the unique
challenges in Latin America and the Caribbean.
We have financed more than $2 billion in grants and investments for private-
sector development projects. In all, we have funded more than 1,800 MIF
projects with various partners.
Funds for our activities come from contributions made by our member
countries—now totaling 39—in Latin America and the Caribbean, North
America, Europe, and Asia.
02 03

3. 04 05Where and How We Operate
We work on the ground and in partnership—with local, mostly private
partners—to help fund and carry out pilot projects. Altogether, we have
worked with more than 2,000 local partners, most of which had never
previously worked with a development bank. Our partners contribute both
a significant portion of the project costs and on-the-ground resources to
implement operations.
We also work with global partners that share our goals, such as corporations,
foundations, and other multilateral organizations. They pool their financial
and other resources with ours to jointly solve development challenges.
In addition, we invest in private financial institutions, which lend the resources
to micro and small businesses, and in the rapidly developing venture capital
and impact investment industries in Latin America and the Caribbean.
Nearly half our staff works out of IDB Group offices in 26 countries in the
region. We monitor each project throughout its active stages, perform a
thorough evaluation once it is complete, and share lessons learned. Once
each pilot is completed, we provide knowledge and tools for the IDB Group or
others to scale it up, or to adapt and replicate it for different communities and
sectors.

4. 06 07
44
Jamaica
65
Haiti
101
Nicaragua
20
Barbados
98
Honduras
18
Belize
170
Mexico
107
Guatemala
118
El Salvador
78
Costa Rica
60
Panama
124
Ecuador
178
Peru
134
Bolivia
89
Chile
17
Bahamas
78
Dominican Republic
38
Trinidad & Tobago
24
Guyana
16
Suriname
45
Venezuela
166
Colombia
172
Brazil
99
Uruguay
78
Paraguay
100
Argentina
Projects approved through 2013, by country*
our projects
Financial Inclusion
»» Access to financial services: savings, remittances,
mobile banking, and branchless banking
»» Microinsurance
»» Microfinance: microfinance in frontier markets,
rural microfinance, responsible microfinance
Financing for Small Businesses
Early-Stage Equity
Venture capital and seed funds, early-stage
entrepreneurs
Access to Finance
Basic Services for the Poor
Water and sanitation, electricity, and health
services
Public-Private Partnerships
Climate Change
Leveraging natural capital, accessing clean and
efficient energy, adapting to climate change
Access to Basic Services and Green Growth
Haiti
Our work supports low-income and vulnerable
populations in the region’s poorest country,
providing access to finance, markets, and basic
services, and thereby helping to raise incomes
Women’s Economic Empowerment
Our WEempower initiative works with private-
sector organizations to test combinations of
products and services that enable women to
reach their full economic potential
other areas of focus
Value Chains
Microfranchising, linking small farmers to
markets, linking small enterprises to larger
companies
Regional Economic Development
Development approaches that benefit smaller
enterprises, tailored to different regions
Business Skills
Youth employment and entrepreneurship
Access to Markets and Skills 281REGIONAL
*IncludesprojectsbelongingtotheIDB’sSocialEntrepreneurshipProgram,administeredbytheMIFsince2007

5. 08 09Our Impact
Together, we can leverage private and public resources to magnify our impact
33%
of all microfinance institutions in
the region received financing and/or
technical assistance
100 million
remittance senders and recipients
benefiting from lower transfer fees
6.5 million
micro borrowers received loans (1/3
of micro borrowers in the region)
200,000+
small farmers trained and/or linked
to markets
Our projects are small, but our aim is systemic impact. And our reach can be very large.
Our committed targets are also ambitious
in 5 years
100,000
women-led small
businesses have
increased access to
finance
in 5 years
450,000
people start to save
money
in 10 years
1 million
youth are trained
With our partners, we leveraged an average of $3 for every $1 that our donors contributed*
1:3
1:6
1:1.4
1:5
Overall
Early-stage equity
Grants
Microfinance funds
*TheMIFin2013

6. 10 11How to Partner with Us
We partner with nongovernmental organizations, corporations, financial
institutions, universities, governments, and other development institutions
that share our objectives and have the capacity to mobilize financial and non-
financial resources to develop joint projects and programs.
MIF partnerships create innovative solutions, generate knowledge, leverage
financial resources, and provide visibility for results.
There are a number of ways to partner with us, including:
»» Individual projects, for which partners provide funding, networks, and
knowledge;
»» Programs, in which partners provide similar financial and non-financial
support for a larger initiative that may finance several projects; and
»» Impact investments, in which partners co-invest in venture capital and
seed funds, microfinance institutions and funds, and financial institutions
piloting innovative finance for smaller businesses.
Each type of collaboration can be tailored to meet partners’ conditions for
cooperation, and partners' priority sectors and countries.
Investment-based partnerships
Grant-based partnerships
Programs
mif partner
Individual
Projects
mif partner
Impact
Investments
mif partner

7. As our
partner, you
can use our
network to find the
best opportunities
and partners
track record in planning,
implementing, and
evaluating projects
funding to share risk and
overcome market failures
trusted brand and
recognized results
framework
local presence
in 26 countries in
Latin America and
the Caribbean
"Sinceweweregoingtotryacompletely
newbusinessmodel,itwashelpfultohave
fundingfromtheMIFtoreducetherisk."
Nicola Armacost, Managing Director, Arc Finance,
a global energy finance nonprofit organization
“TheMIFisalaboratory,ameansoftesting
anexperiencethatwecanlateramplify,
magnify,andreproduceinasociety.”
Danilo Astori, Vice President of Uruguay
“TheMIFhasbroughtinformation
tothetabletoimprovethequality
ofourprojects,andopenednew
doorstohelpscalethemup.”
Eduardo Ferreira, Head of Inclusive
Business, Itaú Unibanco, a Brazilian bank
"FundsfromtheMIFhavemadeit
possibletoinvestinnewventuresthat
wereseenbyothersastoorisky."
Marta Cruz, Founder and Director,
NXTP Labs, a regional seed fund

8. 14 15
We work with thousands of partners, including
Accion International
ANDI
Arc Finance
AED
AVSI
B Lab
Catholic Relief Services
CARIBSAVE
Clinton Bush Haiti Fund
CNI
Colectivo Integral de Desarrollo
CONCAMIN
FINCA
The Ford Foundation
Fundação Roberto Marinho
Fundación AVINA
Fundación Chile
Fundación Ciudad del Saber
Fundación Mario Santo Domingo
Fundación PROFIN
Fundación Semana
FUNDEMAS
FUNDES
GBA for Women
Global Partnerships
Habitat for Humanity
ICCO
Instituto Ethos
International Youth Foundation
Korea Small Business Institute
MEDA
Mercy Corps
National Audubon Society
National Geographic
The Nature Conservancy
Neumann Foundation
Opportunity International
Oxfam
The Rainforest Alliance
Sebrae
SNV
Swisscontact
TechnoServe
The Water Initiative
Women’s World Banking
World Resources Institute
World Vision
World Wildlife Fund
Youth Business International
Alpina
Arcos Dorados
Bloomberg New Energy Finance
CARANA Corporation
Caterpillar
CEMEX
Cirque du Soleil
Coca-Cola
Diageo
FEMSA
Gerdau
Goldman Sachs
IBM
Keurig Green Mountain
Kodak
Life Technologies
ManpowerGroup
Masisa
MasterCard
MGM Innova
Microsoft
Mitsubishi Corporation
Mondelēz International
Nestlé
Odebrecht
PepsiCo
Pfizer
Repsol
Starbucks
Sumitomo Corporation
Telefónica
Tetra Pak
Unilever
Visa
Walmart
Whole Foods
Yamaha Corporation
Banamex
Banco Adopem
Banco ProCredit
Bancolombia
BBVA
Citi
Developing World Markets
DID
Fonkoze
Grassroots Capital Management
Gray Ghost Ventures
GreenMicrofinance
Itaú Unibanco
J.P. Morgan
Keystone Capital
Merrill Lynch
Mibanco
MicroRate
MicroVest
Oliver Wyman
Omidyar Network
Root Capital
SIDI
Soros Economic Development Fund
Storm Ventures
Swiss Re
Triodos Bank
VisionFund
Columbia University
Duke University
Fundação Getúlio Vargas
Harvard University
Massachusetts Institute of
Technology
Stanford University
Tecnológico de Monterrey
Thunderbird School of Global
Management
Universidad Autónoma
Metropolitana
Universidad de Buenos Aires
Universidad de Chile
Universidad del Pacífico
Universidad EARTH
University of California at Berkeley
University of Michigan
University of South Carolina
AECID (Spain)
AFD (France)
Australian Aid
Bancóldex (Colombia)
Bansefi (Mexico)
BDP (Bolivia)
Bio (Belgium)
BNDES (Brazil)
CBI (Netherlands)
CAF
The Caribbean Development Bank
The China Development Bank
The Climate Investment Funds
COFIDE (Peru)
COFIDES (Spain)
Cooperazione Italiana
CORFO (Chile)
CND (Uruguay)
Danish Microfinance Partners
DEG (Germany)
DFATD (Canada)
The Development Bank of Jamaica
DFID (United Kingdom)
Embrapa (Brazil)
The European Investment Bank
Finep (Brazil)
Finnfund (Finland)
FMO (Netherlands)
GIZ (Germany)
The Global Environment Facility
Gobierno de España
IDRC (Canada)
IICA (United States)
JICA (Japan)
KfW (Germany)
Nafinsa (Mexico)
The Nordic Development Fund
Norfund (Norway)
The Norwegian Microfinance
Initiative
OPIC (United States)
The People’s Bank of China
RDA (Korea)
SDC (Switzerland)
SECO (Switzerland)
SIDA (Sweden)
SIFEM/Obviam (Switzerland)
Swedfund International (Sweden)
UNEP
UNFCCC
USAID (United States)
The World Bank
CORPORATIONS
FINANCIAL INSTITUTIONS
UNIVERSITIES
GOVERNMENTS & DEVELOPMENT
INSTITUTIONS
nongovernmental
organizations

9. 17
Impact Investing
Investors can co-invest with us in organizations and funds with the goal
of generating measurable, beneficial social and environmental results, in
addition to financial returns. This can take the form of equity, venture capital,
and debt to support impact funds, and grants to accelerate and scale up social
enterprises.
We also are looking for investors to participate in the Social Entrepreneurship
Program that we manage for the IDB, which provides loans and grants to
rural-based enterprises with no access to commercial finance in the region’s
poorest countries. Other investors could join in our new social impact bond
facility, an innovative model in which an investor contracts with the public
sector to pay for improved social outcomes that result in public savings.
Also, investors could support our Venture Capital Scorecard, developed
in partnership with the Latin American Private Equity & Venture Capital
Association (LAVCA) and the Economist Intelligence Unit, which provides key
information about and analytical tools for venture capital financing.
Green Growth
Small businesses—and, even more importantly, farmers—must become aware
of the effects of climate change and build their resilience to extreme weather
events to remain competitive. Partners could work with us on PROADAPT, the
first program to focus on climate change adaptation in Latin America and the
Caribbean, which we launched with the support of the Nordic Development
Fund. Companies that aim to cut emissions and waste, preserve natural
capital, and build climate resilience could share networks, know-how, and new
technologies.
Also, the region needs to better capitalize on renewable energy and energy
efficiency technologies. Businesses and low-income households could
leverage clean technologies to save on energy costs and reduce emissions.
We are looking for
partners to work with
us on

10. 18 19
Partners also could provide financial resources for our Climatescope
report, developed in collaboration with Bloomberg New Energy Finance
and globalized with support from the United Kingdom’s Department for
International Development and the United States Agency for International
Development. The report provides critical information about and analytical
tools for renewable energy investment and finance.
Financial Inclusion
We are expanding programs that promote both access to and use of credit,
savings, payment services, and insurance products. This builds on our 20 years
of experience in developing microfinance and remittances to bring low-
income people into the financial system.
Programs that incorporate proper targeting and tailored incentives include
ProSavings, which develops savings products for recipients of government
payments, and the Remittances and Savings program, for unbanked
recipients of the $60 billion annual flow of remittances. Our Tec-In program
is testing branchless and mobile distribution channels that increase the
affordability and diversity of financial products. Financial institutions that want
to expand their portfolio of savings products could scale up our pilot efforts.
Also, partners could support our Microscope report, developed in
collaboration with the Economist Intelligence Unit, which provides vital
information about and analytical tools for financial inclusion.
Inclusive Value Chains
We aim to boost small producers or enterprises by integrating them into the
value chains of larger companies. In agriculture, we help farmers improve their
quality and production, get certifications, strengthen their cooperatives, and
sell products such as coffee or cocoa to higher-value markets. We also work
with anchor companies on “greening” the suppliers and distributors in their
value chains.
Our Regional Initiative for Inclusive Recycling seeks to improve the living
standards of 15,000 marginalized “waste pickers” throughout Latin America
and the Caribbean by helping them become professional recyclers. Partners
from the public, private, and nonprofit sectors could help fund, design, and
implement projects that integrate recyclers into public waste management
systems and into the recycling efforts of large companies.
Innovative finance for Small Businesses
Our pilot efforts include a “psychometric” credit-scoring tool that evaluates
an entrepreneur’s personality, intelligence, and character as direct measures
of their ability to repay, to foster increased access to financing for smaller
businesses.
We also are supporting the creation of crowdfunding platforms, using
the Internet to connect traditionally excluded smaller businesses to
potential funders. In Mexico, we are working with Anahuac University
to engage multiple stakeholders—including the National Institute of
Entrepreneurship and the Presidency’s division of National Digital Strategy—
to strengthen regulations that govern online transactions and protect
sensitive data. Partnering entities, either private or public, could match
funding commitments, scale up the initiative, or broaden the reach of the
crowdfunding platforms.
Youth Economic Opportunity
Our New Employment Opportunities for Youth (NEO) program seeks to
boost job entry for 1 million disadvantaged youth, at least half of them female.
We are working with the International Youth Foundation and other partners to
bring together businesses, governments, providers of youth job services, and
youth themselves to design employability strategies. Companies looking for
qualified employees could provide training, internships, and jobs.

11. 20 21
For low-income young people who want to start and grow their own
businesses, we and the Prince’s Youth Business International together created
the Youth Entrepreneurship Program (YEP). This is building alliances among
governments, global and local companies, and civil society groups to provide
support services for young entrepreneurs in as many as 10 countries.
Women’s Economic Empowerment
Our Women’s Economic Empowerment (WEempower) initiative works
with local private-sector organizations to test combinations of products and
services that enable women—entrepreneurs, farmers, women in households,
and young women—to reach their full economic potential. As part of this
effort, we and the Structured and Corporate Finance Department of the IDB
Group have a women entrepreneurshipBanking (weB) program that offers
financial institutions debt/risk sharing and technical assistance to test lending
models that support the growth of women’s micro, small, and medium-sized
businesses.
We also need partners to provide access to markets and financing, business
advisory services, and leadership coaching for women-led or women-owned
microenterprises with strong growth potential. Partners could include banks
customizing their credit operations for women, and companies aiming to
include women-led enterprises in their value chains.
Also, partners could provide technical and financial resources for our
WEVentureScope report, developed in collaboration with the Economist
Intelligence Unit, which is the first comprehensive index that ranks countries
in Latin America and the Caribbean according to their environment for
women entrepreneurs.
Haiti
We have been active in Haiti since 1995 and provided emergency assistance
after the 2010 earthquake: $3 million helped 16 of our partners restart their
operations and restored the livelihoods of more than 340,000 beneficiaries.
Haiti Hope, a public-private partnership, promotes training for mango
producers and connects them to international exporters. The role of one
partner, The Coca-Cola Company, varied from significant funding, to assessing
the suitability of Haitian mangoes for commercial juices. We also have a
remittances-based project in which relatives abroad buy a clean-energy
product, such as solar lanterns, from a money-transfer company. Then, a family
member in Haiti picks up the product at the transfer company’s local office.
Innovation in Basics Services for the Poor
An estimated 125 million people in Latin America and the Caribbean lack
access to health-care services, 30 million lack safe drinking water, and 100
million live without improved sanitation. Lack of access to basic services has a
direct impact on their health and productivity.
To address this, we have championed innovative partnerships between public
and private actors to develop sustainable models for providing basic services.
In peri-urban areas of Bolivia, we are piloting an ecosystem for market-driven
sanitation services that uses local entrepreneurs to create quality, low-cost
services and uses social marketing campaigns to boost demand. Partners in
the public and private sectors could pool their expertise, financing, and other
resources to help with these types of arrangements.
Partners also could support our Infrascope report, developed in collaboration
with the Economist Intelligence Unit, which provides key information
about and analytical tools for the enabling environment for public-private
partnerships.

12. 22
The MIF is supported by 39 member countries
Argentina
Bahamas
Barbados
Belize
Bolivia
Brazil
Canada
Chile
China
Colombia
Costa Rica
Dominican Republic
Ecuador
El Salvador
France
Guatemala
Guyana
Haiti
Honduras
Italy
Jamaica
Japan
Korea
Mexico
Netherlands
Nicaragua
Panama
Paraguay
Peru
Portugal
Spain
Suriname
Sweden
Switzerland
Trinidad & Tobago
United Kingdom
United States
Uruguay
Venezuela

13. Multilateral Investment Fund
1300 New York Avenue, NW
Washington, DC 20577
United States
mifcontact@iadb.org
www.fomin.org
facebook.com/fominbid
twitter.com/fominbid
youtube.com/fominbid
Multilateral Investment Fund
Member of the IDB Group