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The
Emergency Liquidity Facility (ELF) is a Fund located in
San Jose, Costa Rica with operations throughout Latin
America and the Caribbean. ELF has more than US$10 million
available to assist in emergencies. ELF was created with
the participation of bilateral and multilateral institutions,
as well as private investors. ELF’s purpose is to
serve as a lender of last resort to microfinance institutions
(MFIs) affected by natural disasters or man-made crisis.
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ELF’s
main shareholders are the Swiss State Secretariat for
Economic Affairs (SECO) and the Inter-American Development
Bank (IADB) through the Multilateral Investment Fund (MIF).
In addition, ELF has received contributions from several
institutions linked to the microfinance industry such
as: Gray Ghost Microfinance Fund, Calmeadow Foundation,
Calvert Social Investment Foundation, Argidius Foundation,
Accion International, Omtrix, and Open Society Institute.
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 Provide
liquidity in a timely manner to Microfiance Institutions
affected by an external shock. Emergency loans
are provided to microfinance institutions to allow them
to continue without interruptions their financial activities
and overcome liquidity difficulties that occur after unexpected
events. |
Prevention
activities and training in risk administration.
Trough non-reimbursable funds from the Technical Support
Facility (TSF), ELF provides technical assistance aimed
at strengthening microfinance institutions with regards
to their emergency prevention and mitigation practices.
Additionally, it will provide the funding necessary for
immediate correction of MFI’s weak areas that have
become evident as a result of a crisis . |
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react efficiently and promptly: ELF could act on
a timely manner once an emergency has occurred thanks to
the pre-qualification and continuos monitoring of MFIs. |
| Decentralized
approval: As a result of its own Investment Committee,
conformed by persons with knowledge and experience in banking
and microfinance. |
| Specialized
Management: Omtrix, domiciled in San Jose, Costa
Rica, has qualified and experienced staff with a deep experience
and knowledge in microfinance and banking. |
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