Capital structure

Capital structure

The MEF was set up for an unlimited duration and is open to well-informed investors only. The Fund is structured as a multi-layer fund, designed to attract commercial capital from multilateral and private institutional investors.

To meet these requirements there are three Shareholder classes (A, B, C) and one Noteholder class each share and note class having its own risk profile and targeted return.

A - Shares or Notes are subscribed by private institutional investors primarily and have a maturity up to 10 years.

B - Shares are subscribed by international financial institutions and have a maturity up to 12 years.

C - Shares are primarily subscribed by Donors, have an unlimited maturity and represent a first-loss tranche, fully subordinated to all other classes of securities issued.