NEWS

European Development Finance Institutions (EDFI)

EDFI WELCOMES NEW MEMBER - SIFERM

EDFI is pleased to announce that membership was extended to Sifem, the Swiss Investment Fund for Emerging Markets on 1st December 2005.

Sifem was established on 1 July 2005 by the Swiss Confederation's State Secretariat for Economic Affairs (SECO). SECO has invested some $200 million over the last 10 years in 30 projects, mostly in private equity funds. Initially, Sifem is mandated to manage seco's portfolio and advise on new investments. At the end of 2006, the portfolio will be transferred to Sifem.

To better respond to the market, Sifem plans to diversify into loan instruments, credit guarantees and direct investments. In regard to fund investments, Sifem participates in the range of 15 – 30%, usually between 5 to 7 million US dollars. Direct investments range up to 7,5 million US dollars. Sifem invests in developing and transitional countries, as defined by the World Bank, with a GNP per capita of under 5,295 US dollars. A large part of the investments will be made in seco’s priority countries. (see)