IFC, in collaboration with the german development bank Kreditanstalt für Wiederaufbau (KfW) and the Development Bank of Austria (OeEB), created a global Microfinance Enhancement Facility (MEF) in 2009 to support microfinance institutions worldwide that may face funding shortfalls during periods of unprecedented financial stress. At the time of investment, IFC aimed to support over 100 microfinance institutions operating in more than 30 countries, including over 20 IDA countries. 

In July 2024, CAO received a complaint concerning KB Prasac Bank Plc (Prasac), which is a client of MEF. The complainant raised concerns about the harmful effects on their livelihood and well-being linked to the lending and collection practices of Prasac. They alleged that they faced threats due to their inability to make payments on their loan. The complainant also alleged that their family experienced a negative impact on their livelihood, including the loss of income-generating property and an increased debt burden as they had to take out additional informal loans to meet their repayment obligations to Prasac, among other concerns. 

CAO found the complaint eligible in October 2024 and initiated an assessment.