Root Capital Recipient of First Agricultural Development PRI - Bill & Melinda Gates Foundation

CAMBRIDGE, Mass -- Root Capital was announced today as the recipient of Bill & Melinda Gates Foundation’s first program-related investment (PRI) from its Agricultural Development initiative. Root Capital will use the six-year, $10 million PRI as loan capital to scale its operations in Sub-Saharan Africa. The investment will expand economic opportunities for more than 500,000 rural households by enabling Root Capital to extend access to credit, financial management training, and global market opportunities for small and growing rural businesses. The $4 million operating grant will support Root Capital’s five-year growth plan to achieve a financially self-sustainable lending program by 2013.

To read the full press release, visit the Root Capital web site.