Dutch initiatives among G20 prizewinners
In Seoul today, US President Barack Obama on behalf of the G20 presented a prize to the Amsterdam-based organisation Medical Credit Fund (MCF). The MCF was one of the three best entries in the G20 SME Finance Challenge, a competition to find the best models worldwide that catalyse finance for small and medium enterprises in developing countries.
‘It’s fantastic that the Medical Credit Fund has won this prize,’ Minister for European Affairs and International Cooperation Ben Knapen said. ‘The MCF, which was made possible in part with support from the Ministry of Foreign Affairs, offers innovative assistance to private healthcare providers in developing countries. A well-functioning financial sector is key to economic growth and self-sufficiency. This prize is evidence that the Netherlands leads the way in developing innovative solutions for developing countries’ private sectors.’
Fourteen winners were selected from a total of 344 entries. Two of the winners are cofinanced by the Ministry of Foreign Affairs and five by the Netherlands Development Finance Company. The Medical Credit Fund, developed by Pharm Access, provides loans to primary health SMEs such as doctors and pharmacists, enabling them to invest in equipment, services and quality. Another prizewinner is the Business in Development network (BiD), that will create a multi-community web platform bringing together entrepreneurs, investors and coaches.