MDIF’s new loan fund, MDIF Media Finance I, has made its first investments in three countries where access to independent information is under threat.
The loans have provided financing to four outlets – two digital, one broadcast and one print – enabling them to invest in equipment and content, and so develop audiences and revenues.
MDIF Media Finance I will provide up to USD6 million in affordable debt to small- and medium-sized enterprises in the media sector with high social impact – outlets that provide the news, information and debate that people need to build free, thriving societies. Loans from the fund will typically finance investments in software, equipment, content production and workspace, as well as working capital and short-term cash-flow needs.
The fund will operate in select emerging and frontier markets where people have limited access to reliable news and information, countries such as Nepal, Malawi and Ukraine.
The loan fund adds to MDIF’s existing vehicles for providing debt and equity financing to news and information companies.
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