LUXEMBOURG, August 30, 2016 /PRNewswire/ --
Delivering Growth Capital Globally to Real Economy Banking Serving Real Human Needs
Sustainability | Finance | Real Economies SICAV - SIF (SFRE, pronounced Sapphire) has released its 2016 Second Quarter report with its investments supporting $1.8 billion in financing to the real economy reaching nearly 600,000 clients.
SFRE was initiated by the Global Alliance for Banking on Values (http://www.gabv.org ), to meet growth capital needs of sustainability-focused banks, and to expand their impact and reach. SFRE is the first open-ended investment company created to support the globally growing segment of banks focused on serving individuals and enterprises in the real economy, while delivering a triple bottom line of economic, social and environmental impact.
Jim Prouty, CEO of SFRE noted, 'Within one year of our first investment, SFRE is achieving results. The banks in which we have invested have nearly $1.8 billion in loans extended to nearly 600,000 clients in the real economy. Furthermore over 80% of these clients are female highlighting our focus on delivering social change.'
Vince Siciliano, SFRE Board member and CEO of New Resource Bank, further noted, 'Through these results SFRE is showing that banks can deliver social returns. These returns will be further documented through the use by our investments of the Scorecard developed by the Global Alliance for Banking on Values. The investees' Scorecards will provide deep insight into the holistic results delivered by our investments. These Scorecards provide transparency on achieving our goal to deliver social and financial value through the financial system.'
About SFRE http://www.sfrefund.com
SFRE's vision is to support a banking paradigm focused on the real economy and meeting human needs of social empowerment, environmental regeneration, and economic resiliency (a triple bottom line of People, Planet & Prosperity). SFRE is led by SFRE CEO Jim Prouty. Enclude Capital Advisory UK Limited acts as placement agent to SFRE.