The MFF was to on-lend to SMEs under the Damu Entrepreneurship Development Fund (Damu). It had three tranches and was to address the lack of domestic resources for medium-term lending to SMEs in local currency. The third tranche was relent by Damu to four participating financial institutions. The envisaged impact of the program was sustained job creation and economic growth. The expected outcome was increased access by SME subborrowers to medium-term credit on a sustainable basis.
This report validates the completion report's assessment of the program. IED overall assessment is less than successful for Tranche 3 and successful for the MFF.