The Global Impact Investing Network (GIIN) announced last week that the United Kingdom’s Department for International Development (DFID) will provide GBP £10.5 million to support the GIIN’s role in developing and growing the impact investing market in sub-Saharan Africa and Asia. The funding is part of DFID’s new Impact Programme, which will also establish a DFID Impact Fund that will be managed by CDC Group, the UK’s development finance institution. The DFID Impact Fund will invest in impact investment intermediaries providing capital to businesses and projects improving the lives of poor people. Backed by expert technical assistance, the DFID Impact Fund is designed to attract new investors to promising impact investment intermediaries.

“The launch of the DFID Impact Programme is an important milestone for the growing impact investment industry, especially in its tremendous support for field-building work,” said Luther M. Ragin, Jr., Chief Executive Officer of the GIIN. “The DFID Impact Programme is well positioned to catalyzeeffective impact investing markets in sub-Sahara n Africa and South Asia, and it complements the GIIN’s commitment to grow the field worldwide.”

To read the full press release click here.