In order to pursue our mission in a targeted manner, we organize our work around program areas. This approach allows us to tackle complex dynamics in sectors such as Energy Access and Agriculture. Our program areas generally intervene in developing markets and aim to generate positive impacts on livelihoods in underserved and low-income communities.

Our Program Managers are empowered to think about a wide range of interventions with an emphasis on private, commercial investments and PRIs (program related investments).  When possible, we prefer to invest through intermediaries that are focused on lending directly to enterprises or providing structured finance to projects. We believe that these forms of capital are essential to accelerating the adoption of proven solutions. When intermediaries are not present in a market, we may lend directly or may invest in building new intermediaries.

In new or difficult markets where commercial rates of return are unsustainable, we deploy foundation capital in the form of PRIs (program related investments).  Our PRIs may take the form of debt or equity and are subject to the same rigorous evaluation and structuring as our commercial investments. Our traditional grant dollars will generally be used when we identify non-financial issues that are impacting the sustainable development of our target markets.

Beyond our core program areas, we are also interested in a variety of cross-sector themes as well. These include financial inclusion, SME (small and medium enterprise) finance, integrated financial and healthcare services, and women’s empowerment.

Our Program Managers are empowered to think about a wide range of interventions from the investment of commercial-rate capital to the use of PRIs and grants with the ultimate goal of generating large-scale community and social impacts.

Our Programs