The BUILD Fund, along with its ‘companion’, the BUILDER Technical Assistance (TA) Facility, was officially launched in Zimbabwe today, at a special event hosted in Harare.
The BUILD Fund, an innovative blended impact finance vehicle, is strategically designed to provide financial support to SMEs and businesses with significant development impact potential, particularly in Least Developed Countries (LDCs) and other developing economies.
The event, set to be followed by webinars in January 2024, aims to introduce and engage with Small-to-Medium Enterprises (SMEs) and technical assistance providers interested in participating in the BUILD Fund and BUILDER TA Facility initiatives. These webinars will provide valuable insights into the application process for SMEs seeking funding and the potential inclusion of technical assistance providers into the BUILDER TA providers’ pool.
Earlier this year, Switzerland through the Swiss Agency for Development and Cooperation (SDC), announced a significant investment of US$16 million into the BUILD Fund. Out of this, US$10 million is specifically allocated to support projects in Zambia and Zimbabwe through UNCDF, with an additional US$5,5 million directly invested into the global BUILD Fund. SDC has further earmarked US$1 million for the provision of technical assistance through the BUILDER Technical Assistance (TA) Facility.