About Us
The RIF seeks to address the challenges of unemployment, lack of economic opportunity and limited access to services and goods that are faced by refugees and their host communities. The impact-linked loans provided through the RIF will allow the enterprises to maintain or build their focus on refugee and host community populations, grow their business, and be financially rewarded through interest rate reductions for direct and measurable impacts they have on the refugee and host communities they are serving.
Our Story
2020
When the DRC and iGravity came together
DRC an iGravity came together for the first time and begun to assess the potential of impact investing in a refugee context.
2021-22
Design & Fundraising
Design of the Refugee Investment Facility and Fundraising.
2023
RIF was formed
On April 19, 2023, the RIF was oficially established as a formal legal entity.
2024
Our first Impact Report
The RIF published it’s inaugural 2023 Impact Report, reflecting it’s first year of operation.
RIF Co-managers
iGravity is an advisory firm specialized in impact investment and innovative finance solutions with the mission of connecting disruptive ideas, visionary people, institutions and capital to address some of the most pressing social issues. It collaborates with NGOs, foundations and development organisations to create positive social impact through finance mechanisms.
The Danish Refugee Council (DRC) is Denmark’s largest, and a leading international NGO – one of the few with a specific expertise in forced displacement. In 40 countries 9.000 employees protect, advocate and build sustainable future for refugees and other displacement affected people and communities.
Board of the RIF
Patrick Elmer
CEO & founder iGravity
Patrick has more than 15 years of experience working in the intersection of finance and global development, previously at BlueOrchard, Credit Suisse and SECO before founding iGravity. He is also the co-chair of the Impact-Linked Finance Fund.
Morten Högnesen
Global Portfolio of Innovative Financing Initiatives
Morten leads DRC’s global portfolio of innovative financing initiatives, including designing instruments that can mobilize investment capital for refugee impact. He has over 13 years of experience in humanitarian assistance and development, with leading roles in innovation, funding, partnerships and program management in NGOs and UN.
Christian Speckhard
Independent board member
Christian has more than 25 years’ experience in the international banking, finance and impact investment industry. In 2018, he started his own advisory business and launched simpAct Consulting GmbH. Christian was deputy CEO and CIO of responsAbility Investments for 11 years.
The RIF Team
Elizabeth West
Head of Impact Ventures
Itamar Ahrenbeck
Impact Investment Manager
Frederic Berney
Head of Products and Risk
Patrick Kikomeko
Impact Investment Associate
Letty Wheeler
Regional Innovative Financing Coordinator, Middle East
Alistair Cowan
Regional Alternative Finance Coordinator, East Africa & Great Lakes
Sacha Gayama
Senior Advisor, Innovative Financing (Global)
Ala Adas
RIF Impact Advisory Coordinator, Jordan
Joseph Kasoma
Impact Investment AssociateRIF Impact Advisory Coordinator, Uganda
How the RIF works
The RIF lends to private enterprises that contribute to addressing the key livelihood and self- reliance challenges faced by refugees and their host communities.
How is this done?
Combining Impact Linked Finance & Technical Assistance
Impact Linked Finance
Impact Linked Finance
Impact-Linked Finance refers to linking financial rewards for market-based organizations to the achievements of positive social outcomes. It is a highly effective way of aligning positive impact with economic viability and lies at the intersection between blended finance, impact investing, and results-based finance.
With regards to the RIF, the interest rate applied to the loan privided to each company is linked to one or more KPIs that relates directly back to impact themes of the facility, resulting in measurable impacts on decent work and income generation, capacity and skills, financial inclusion, and access to goods and services. The more impact the company achieves over the term of the loan, the lower its cost of financing.
As such, the impact-linked loans provided through the RIF allow borrowers to maintain or build their focus on refugee and host community populations, grow their business, and be financially rewarded through interest rate reductions for direct and measurable impacts they have on the refugee and host communities they are serving.
Technical Assistance
Technical Assistance
The RIF Technical Assistance Facility (TAF) aims to provide technical assistance to the RIF’s investees to support business growth and impact targets. Technical assistance funded through the TAF can comprise:
Refugee Impact Advisory and mentoring for refugee impact, which leverages DRC’s expert understanding of forced displacement issues and its local presence in refugee-hosting areas to improve the inclusiveness of a business’ offering or appropriately reduce any material risks it may present to vulnerable groups.
Business development mentoring and advisory by RIF investment managers, particularly on legal, financial management, and accounting processes.
Example refugee impact advisory activities:
– Navigating regulatory environment;
– Understanding market potential in refugee hosting areas;
– Defining job creation targets and standards;
– Refugee-sensitive product design and business model development;
– Customer engagement and feedback loops;
– Identifying and upskilling employees;
– Linking with supportive programming and ecosystems.
Come along with us on this journey
If you’re a potential investor, partner, or team member please send us a note.
Contact us
Refugee Investment Facility AG
Bahnhofstrasse 56, 8500 Frauenfeld, Zurich
Danish Refugee Council
Borgergade 10, 1300 København K, Denmark
iGravity
Nordstrasse 186, 8037 Zurich
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